![]() ![]() And I just wanted to acknowledge that the difference with the decrease in the percentage tax increase between the proposed final budget is directly correlated or connected to the settlement.CBS News Philadelphia Investigation: The battle to preserve Oakwell estate part 1 04:41 “There will also be certain circumstances going forward, starting with the 2022-2023 fiscal year where, if the district has unexpected surpluses at the end of the fiscal year, 50% of those unexpected surpluses would be credited back to the taxpayers,” Miller said.įollowing the board’s vote, Lucy Klain, board president, said, “So we did approve a proposed final budget at one point, and now we’re voting on the final budget. Many of those are due to the opening of Black Rock Middle School.Īccording to Miller, the district would still need to make changes in year-end surpluses under the settlement. This year, Lower Merion and Narberth residents will get property tax relief of $292.Īccording to Orlando, the district will have approximately 45 new positions in the budget. The state changed the homestead/farmstead tax rebate program funding, which is paid through the state’s gambling revenue. The budget calls for spending $303.94 million. Under the 1.39% tax increase, the new millage rate is 31.2045. The current millage rate for the 2021-2022 school year has been 30.7768. The new tax rate would mean an increase of $107 for an assessed home valued at just over $250,000. Victor Orlando, business manager, said the 3.4% tax increase would have meant a tax increase of $262 for a home assessed at just over $250,000.īut due to the tax lawsuit settlement, the tax increase was lowered to 1.39%.
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