Warrington Township supervisors have announced that the 2020 budget for Warrington Township was unanimously passed and includes no tax increase for residents.
“I am pleased to report that the Warrington Township Board of Supervisors unanimously passed the 2020 Budget with no tax increase and the implementation of a Homestead Real Estate Tax Exemption for qualifying owner-occupied single-family dwellings,” said Fred R. Gaines, chairman of the board of supervisors.
The tax exemption amount approved was $3,000 of assessed value, meaning that qualifying residents will be paying their Township Real Estate Tax based on a reduction of $3,000 from their current assessed value. In other words, a homeowner whose property is assessed at $35,000 (the approximate average assessment in Warrington), will pay taxes based on an assessment of $32,000.
This equates to approximately $50 in savings for the average homeowner, and more for homes with higher assessments.
For fiscal year 2020, Warrington Township will continue to take a fiscally conservative approach. Proposed revenues and expenditures are $14.2 million with a forecasted surplus of $4,444. The fund balance will be $3.4 million, or 24 percent of expenditures.
Expenditures have been budgeted to decrease by $1 million (- 7.4%) in comparison with the 2019 budget. This is primarily attributed to a transfer budgeted in fiscal year 2019 to the capital fund for the construction of the new police station. Total salaries are increasing (8 percent) because of additional personnel and an increase of (0.9 percent) in employee benefits.
“The chairman and the rest of the board have been working to give some financial relief to Warrington taxpayers for over a year, and we are pleased to that we were able to make this happen for 2020,” said Ruth Schemm, vice chair of the board of supervisors.