The municipal earned income tax rate (EIT) will decrease in 2024 in Wrightstown, but the local property tax rate is rising.
Following a Monday night hearing, the Wrightstown Board of Supervisors granted final approval to a 2024 township budget that establishes a municipal property tax of 12 mils for next year. That’s up from 9.23 mills in 2023.
A mill is equal to $1 of every $1,000 of a property’s assessed value.
To calculate the municipal tax on a Wrightstown property under the proposed millage rate, multiply the assessed value of the property by 12 and then divide by 1,000.
For instance, a Wrightstown property assessed at $100,000 would have a township real estate tax bill of $1,200 in 2024. Meanwhile, a property assessed $30,000 would pay $360.
County and school district taxes also contribute to a landowner’s property tax bill. The township doesn’t control those taxes.
The municipality’s property tax increase is needed to help pay for what officials have said are critically necessary expenses. This includes a 5% contractual increase in police protection, according to Supervisor Chairman Chester Pogonowski.
Major projects the township plans to undertake are also fueling the rise. They include fire pond improvements, township building electric and water systems upgrades, health insurance, library parking lot repaving, and stormwater basin restoration, Pogonowski said. Helping to pay for a new fire truck is also in the cards.
While the property tax rate is rising, EIT is going in the other direction in 2024, dropping from the current 1.15% to 1%. This reduction is being made because an existing 20-year open space loan was paid off in 2023. The size of savings will depend on one’s income.
Tax revenue supports the general fund portion of the municipal budget, which anticipates total expenditures of about $2.52 million. The general fund provides funding for pivotal township operations that include public works, police protection, administration and more.
Join our readers whose generous donations are making it possible for you to read our news coverage. Help keep local journalism alive and our community strong. Donate today.
