Service Area 1 property tax millage rate drops
May 18, 2023
The Petersburg Borough Assembly adopted the millage rate for the next year at its meeting on Monday.
The assembly resolution, which was unanimously approved, set the millage rate for Service Area 1 at 10.84 mills-down from the last three years at 11.5 mills.
Outside of Service Area 1, the millage rate will remain at 4.2 mills.
According to Finance Director Jody Tow, the lower millage rate will help offset the increases to assessed residential property values, which rose by about 15% in Petersburg this year.
The higher property valuations were attributed to housing shortages as well as the r...