By CHRISTINE HAINES
The Elizabeth Forward school board will consider the 2020-21 budget, which includes a tax increase of 3.6%, at its business meeting Wednesday.
The increase is the highest permitted under the state index and will set the real estate millage at 25.6832 mils, equal to taxes of $256.82 per $10,000 of assessed value, according to business manager Albert Ragan. He said the median assessed property value in the school district is $97,900.
According to Ragan, the assessed value of the district increased by $1.96 million this year, meaning an anticipated increase in property tax revenue of $837,000 for the district.
Ragan noted that the top 50 parcels in the district are all commercial properties, with the highest assessment coming in at more than $3.8 million. Ragan anticipates a significant decrease in the assessed value of the water tower site in Elizabeth Township. It has been assessed at $2 million, but that assessment is under appeal and could drop as low as $145,000.
Ragan noted that Pennsylvania American Water won a similar appeal in Green Tree. The Mid-Mon Center site in Forward Township has already been reassessed, dropping from $1.75 million to $738,000, Ragan said.
“Commercial properties are what bring in the revenue,” Ragan told the board.
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