Penn Hills school directors approved $39.8 million budget for the 2014-2015 school year that includes an increase of 0.68 mills in the real estate tax rate. The rate hike will raise the millage from 23.473 to 24.150. Earlier in the year the school board applied for and received approval for Taxpayer Relief - Act 1.
The Penn Hills school district will receive $2,359,108 in tax relief for 12,476 homeowners in Penn Hills who qualify for the Homestead tax exclusion. Only a primary residence is eligible for Homestead property tax relief.
Generally, most owner-occupied homes are eligible for the homestead property tax reduction under Act 1. Each eligible homeowner will realize a savings of $189.09 on their tax bills next year. The Act 1 tax rate index for Penn Hills was set at 2.9% for the 2014-2015 school year by the Pennsylvania State Department of Education.
The tax reduction legislation is funded by proceeds from the gambling tax collected by the state. The budget was approved unanimously by the school board.