Borough raises property tax rate to balance budget, begin repayment of school maintenance bond debt

On Monday, Petersburg Borough Assembly unanimously approved the resolution to set the property tax rate for the coming year, raising the millage rate from 10.0 to 10.8 mills.

The new 0.8-mill increase means property owners in Service Area 1 will pay $10.80 per $1,000 of assessed property value, up from $10 last year. For a home assessed at $300,000, the annual increase would be $240.

While an increase from last year, the new rate is still lower than the tax rate from the four preceding years: 10.84 mills in 2023 and 11.5 mills in 2022, 2021, and 2020.

This year's rate increase reflects the wil...

 
 

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