Will real estate taxes increase again in State College? Here is what's proposed
Weeks of discussion remain until State College borough’s 2027 budget is formally adopted but, during an informational council work session Friday afternoon, senior borough staff presented a proposed budget that would include a steeper real estate tax increase than the last one. Staff proposed a three-mill tax increase, which means homeowners would pay about 12% more next year. In other words, a home with a current market value of $500,000 would see an annual bill that amounts to $245.90 more than before — while those with homestead exemptions would instead pay $170.90 more than before. “We are proposing a three-mill tax increase just because we’re unstructurally balanced, and we need to move toward achieving that,” finance director Dwight Miller told borough council during the public work session, as passing the budget ultimately rests with council. The borough’s General Fund is about $2 million out of balance, and the proposed real estate tax increase would be expected to raise a little more than $1.8 million. But, again, State College borough remains weeks away from any proposal becoming a reality. At this time last year, an eight-mill tax increase was proposed before council directed senior borough staff to find alternatives . They
