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Tax Commission Makes Recommendation to School Board
The Act 1 Tax Commmission made a presentation on Dec. 5, 2006 in the DeWitt Blank Conference Room prior to the PR School Board Meeting.The Act 1 Commission presented its rationale for its recommendation on the referendum question. Commission members will review the work it has done since its initial meeting and we will recognize the individual members of the Commission at that time. The Pine-Richland Act 1 Tax Commission recommends that the board consider posing a ballot question that imposes an earned income tax (EIT) to fund the minimum homestead exemption required by Act 1. Based on a 100% application rate of qualified properties for the homestead exclusion, this would require an additional .8% be added to the current earned income tax collected by the townships.
The actual question would be:“Do you favor imposing an additional .8% earned income tax? The revenue generated from the increased tax rate will be used to reduce taxes on qualified residential properties by $811. The current earned income tax rate is .5%.”
Act 1 Commission Hosts Public Hearing
The Pine-Richland Act 1 Commission hosted a public hearing on Thursday, Nov. 16 at 7 p.m. The commission presented information relating to Act 1 and gave residents a chance to voice their concerns, questions and ideas during the hearing. The commission is studying the feasibility of increasing earned income tax (EIT) or personal income tax (PIT) to offset a portion of property taxes.
The Commission formed pursuant to Act 1 of 2006 for the purpose of studying the school district tax structure and making a recommendation to the school board concerning a front-end referendum question for the May 2007 primary election ballot. You can click here to view the presentation that Steve Leonard shared with the community. The commissioners stressed that voters will have a chance to decide in May whether to make a tax shift from property taxes to Earned Income Tax (EIT) or to Personal Income Tax (PIT).
Tax Commissioners
The school board voted on Sept. 13 for the following community members to serve on the Tax Commission:
The Act 1 Tax Commmission made a presentation on Dec. 5, 2006 in the DeWitt Blank Conference Room prior to the PR School Board Meeting.The Act 1 Commission presented its rationale for its recommendation on the referendum question. Commission members will review the work it has done since its initial meeting and we will recognize the individual members of the Commission at that time. The Pine-Richland Act 1 Tax Commission recommends that the board consider posing a ballot question that imposes an earned income tax (EIT) to fund the minimum homestead exemption required by Act 1. Based on a 100% application rate of qualified properties for the homestead exclusion, this would require an additional .8% be added to the current earned income tax collected by the townships.
The actual question would be:“Do you favor imposing an additional .8% earned income tax? The revenue generated from the increased tax rate will be used to reduce taxes on qualified residential properties by $811. The current earned income tax rate is .5%.”
Act 1 Commission Hosts Public Hearing
The Pine-Richland Act 1 Commission hosted a public hearing on Thursday, Nov. 16 at 7 p.m. The commission presented information relating to Act 1 and gave residents a chance to voice their concerns, questions and ideas during the hearing. The commission is studying the feasibility of increasing earned income tax (EIT) or personal income tax (PIT) to offset a portion of property taxes.
The Commission formed pursuant to Act 1 of 2006 for the purpose of studying the school district tax structure and making a recommendation to the school board concerning a front-end referendum question for the May 2007 primary election ballot. You can click here to view the presentation that Steve Leonard shared with the community. The commissioners stressed that voters will have a chance to decide in May whether to make a tax shift from property taxes to Earned Income Tax (EIT) or to Personal Income Tax (PIT).
- EIT includes W-2 wages, tips, partnership and sole proprietorship profits and does not include sub chapter S corporate profits.
- It's important to understand that PIT would include all wages and income taxed by EIT, plus interest, dividends, capital gains and sub-chapter S corporate profits.
Tax Commissioners
The school board voted on Sept. 13 for the following community members to serve on the Tax Commission:
