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Pennridge Finance Committee reaffirms FY2025 general fund budget and property tax rate
Summary
The Finance Committee reported no changes to the FY2025 budget: total revenues and expenditures of $163,159,239 and a property tax rate of 140.1892 mills, a 3.6477% increase that generates about $3.22 million in additional revenue.
The Pennridge Finance Committee reviewed the district’s final general‑fund budget for fiscal 2025 on June 10 and reported no changes to the numbers previously presented at the full board meeting.
Finance staff reported total budgeted revenue and expenditures of $163,159,239 and a real estate tax rate of 140.1892 mills. The staff described the rate as a 3.6477% increase (4.9 mills) producing approximately an additional $3,220,000 in local revenue to balance the budget. Finance staff also provided the commonly used public estimate showing that, for a median assessed value property in the district, the change equates to about $156.69 annually in additional tax liability.
Committee discussion covered other longstanding local taxes that interact with the budget (the district’s 1% earned income tax, half percent real estate transfer tax and level service taxes), with staff describing legal limits and the role of the local tax mix in revenue. The committee did not change the budget; staff will proceed with the previously adopted figures and scheduled property‑tax notices.
Committee members asked clarifying questions about levy distributions and tax collection mechanics; staff explained local collection arrangements and that Keystone Collections handles earned‑income tax processing in the region.
No additional votes were recorded during the committee’s finance session beyond routine approvals attached to the meeting packet.
