SB 76, the Property Tax Independence Act, is designed to eliminate school property taxes. It does not impact the county, township/borough property taxes assessed each spring. The elimination of school property taxes would occur over time since property taxes will still be assessed to cover existing debt obligations. The debt obligation, and thus the tax elimination, varies from district to district. The average homeowner in Schuylkill County will still pay about 24% of current school property taxes. In Berks County, it is about 22%.
Changes under SB 76:
This calculator will help you to see how the changes made by SB 76 will affect your household's finances.
Click on the question mark icons
for more information.
Property tax rate based on Mahanoy Area School District.
|Property Assessed Value|
|Real Estate Tax Amount|
|IRS Tax Rate|
Enter "0" if you do not itemize. Otherwise, enter your Federal Income Tax rate. See this article for more information: https://www.irs.com/articles/2016-federal-tax-rates-personal-exemptions-and-standard-deductions
|Sales Tax Deduction|
To calculate Sales Tax Deduction for additional 1% Sales Tax, find your allowable sales tax deduction based on the following IRS sales tax deductions calculator: https://apps.irs.gov/app/stdc/
Items/Services included in expanded sales tax:
For a complete list, see http://www.senatorargall.com/new-taxable-items/
|Total Yearly Expanded Expenses|
|R.E. Tax Reduction|
|Federal Tax Reduction|
|Total Reduction in Taxes|
|Additional Sales Tax Increase|
|Expanded Sales Tax|
|Federal Tax Increase|
|Total Additional Taxes|
(A positive/red amount indicates you will pay more, a negative/green amount indicates savings)