Plum 2013 Tax Rate Officially Lowered

Plum Borough residents officially will be paying less than anticipated in real estate taxes for 2013.

At a special meeting last week, borough council happily voted to reduce the borough millage rate. 

Due to reassessments, the real estate tax rate was reduced from 4.3 mills to 3.78 mills.

Under the reassessment, taxing bodies can't receive more than 5 percent in property tax revenue so as not to use the reassessment as a major tax increase. Plum's overall value increased by 20 percent, according to borough Manager Mike Thomas.

With the new rate, residents will pay about $378 for every $100,000 of assessed property value. Whether their tax bill increases or decreases essentially depends on their new reassessments.