SB76 Tax Calculator

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. Click on the question mark icons () for more information.

Property tax rate based on the Twin Valley School District.


Basic Information
Property Assessed Value
Real Estate Tax Amount
Household Earnings
IRS Tax Rate
Enter "0" if you do not itemize. Otherwise, enter your Federal Income Tax rate. See this article for more information: https://www.irs.com/articles/2016-federal-tax-rates-personal-exemptions-and-standard-deductions
Sales Tax Deduction
To calculate Sales Tax Deduction for additional 1% Sales Tax, find your allowable sales tax deduction based on the following IRS sales tax deductions calculator: https://apps.irs.gov/app/stdc/
Monthly Expenses for Expanded Sales Tax

Items/Services included in expanded sales tax:

  • Personal hygeine
  • Diapers
  • Hair cuts & salon services
  • Non-perscription medication
  • Amusement parks, zoos, museums
  • Sports, theater, dance events
  • Day care
  • Cable (basic & premium)
  • Magazines, periodicals
  • Textbooks
  • Waste management

For a complete list, see http://www.senatorargall.com/new-taxable-items/
Food
Clothing
Services
Other
Total Yearly Expanded Expenses
Results
Tax Decreases
R.E. Tax Reduction
Federal Tax Reduction
Total Reduction in Taxes
Tax Increases
PIT Increase
Additional Sales Tax Increase
Expanded Sales Tax
Federal Tax Increase
Total Additional Taxes
Net change in taxes under SB 76:

(A positive/red amount indicates you will pay more, a negative/green amount indicates savings)