Plum 2013 Tax Rate to Decrease

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

Borough council will hold a special meeting on June 24 at 7 p.m. to reduce the borough millage rate. The meeting will be held at the borough building.

Due to reassessments, the real estate tax rate will be reduced from 4.3 mills to 3.78 mills. Earlier this year, borough Manager Mike Thomas reported that Plum's assessed value increased by 20 percent. 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.

With the current millage rate of 4.3, residents pay $430 for every $100,000 of assessed property value. With the new rate, residents will pay about $378 for every $100,000 of assessed property value.