SB 76, the Property Tax Independence Act, is designed to eliminate school property taxes. It does not impact the county, township/borough property taxes assessed each spring. The elimination of school property taxes would occur over time since property taxes will still be assessed to cover existing debt obligations. The debt obligation, and thus the tax elimination, varies from district to district. The average homeowner in Schuylkill County will still pay about 24% of current school property taxes. In Berks County, it is about 22%.
Changes under SB 76:
- Personal Income Tax (PIT) increases by 1.88%, from 3.07% to 4.95%
- Sales tax increases by 1%, from 6% to 7%
- Sales tax expands to cover more items
This calculator will help you to see how the changes made by SB 76 will affect your household's finances.
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Property tax rate based on the Twin Valley School District.
Monthly Expenses for Expanded Sales Tax
Net change in taxes under SB 76:
(A positive/red amount indicates you will pay more, a negative/green amount indicates savings)