The municipal property tax rate will remain the same in Upper Makefield in 2024 as it was this year.
Following a public hearing at a meeting on Nov. 21, the township board of supervisors unanimously adopted a 2024 municipal budget that keeps the local rate 6.45 mills.
A mill is equal to $1 of every $1,000 of a property’s assessed value.
To calculate the municipal tax on an Upper Makefield property under the millage rate, multiply the assessed value of the property by 6.45 and then divide by 1,000.
For instance, a residential property assessed at $70,000 will pay about $451 in township real estate taxes in 2024.
County and school district taxes make up much larger portions of a resident’s property tax bill. The township doesn’t control those.
Like other municipalities, Upper Makefield also collects an earned income tax. The township-specific EIT rate in Upper Makefield will remain .5% in 2024.
That’s expected to generate $4.75 million in revenue for the township, according to Assistant Township Manager Judy Caporiccio, who helped spearhead the creation of the budget.
In addition to millage and EIT, real estate transfer taxes will help fund operations in the municipality. They’re expected to produce $700,000 in revenue in 2024, Caporiccio said.
The 2024 budget anticipates general fund expenditures of nearly $9.12 million and revenues of $10.15 million. A fund balance of over $1 million is anticipated.
The general fund provides the financial fuel for key township operations, including police, administration, public works and planning/zoning.
General fund public works expenditures are expected to be $1.2 million, while the police department is expected to come in at about $2.8 million; the purchase of two vehicles and a drone is on tap for police. Administration is $667,275.
Officials have also budgeted $671,517 for road improvements, and more than $370,300 to pay down open space debt. Caporiccio noted that open space debt will be paid off in 2024.
“This is a great budget,” said Supervisor Chairman Tom Cino. “It does not increase taxes, it pays down debt, it funds forward-looking capital requirements, and it also funds operation of the government. It’s a real credit to the entire team that lives the budget every day and brings it to life.”
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