The tax rebate program reimburses residents who earn less than $85,000 per year, any amount they owe above 3% of their income - and currently costs us $153 million per year. The Current Use program that offers a lower tax rate to owners of undeveloped acreage now costs $34.6 million per year. Both programs have increased 36 % since 2006!
A look at the distortions embedded in Act 60.
Perhqaps the folks in Manchester and Dorset have forgotten that their statewide homestead education property tax is determined by the equalized per pupil expenditures in each of their respective communities. If they want to reduce their taxes it is easy, just spend less per equalized pupil. This is not rocket science. Every community can lower its homestead property tax by spending less. The problem is not Act 60/68, the problem is the budget approved by the voters.
Posted by: G.Cross | October 09, 2009 at 12:12 PM
Sorry, perhaps! Perhaps, perhaps etc.
Posted by: G.Cross | October 09, 2009 at 12:13 PM