I am thinking this is really a bad idea - that the UCF school district wants to raise the tax rate higher than the state index for the coming school year. The DAILY LOCAL reports school board member Keith Knauss stating that the district would apply for two exceptions that could allow the district to raise taxes about the current 2.9% state index.
Hello? ! Anyone home and noticing job layoffs? A bit of a downturn in an area that has been seen as "recession proof?" So we ask people to pay more when they have less? Hmmm?
If the state allows the exceptions, the administration could increase real estate taxes as high as 5.89% in Chester County and 3.68% in Delaware County ( both counties are included in the UCF district)
Translation: the tax rate would increase from 23.58 mills to 24.97 in Chester County and from 20.68 in Delaware County to 21.44 in Delaware County.
Note a mill is $1 per every $1000 of assessed real estate value. So if a home is valued at $250,000 in Chester County, the owners would pay about $6200 in taxes with the increase. In DELCO, that same home would come in with a $5,360 tax bill
What the district is trying to offset is twofold. First, this coming year's state index of 2. 9 is the lowest ever and secondly, there has been a downturn in real estate assessments in Chester County (I prefer to call it a re-balancing not a downturn) . Add that a decrease in the real estate transfer taxes, which is the second largest source of income for the district, and it has the school district scrambling.