At the May 18 Solanco School District board meeting, business manager Sandy Tucker announced that adoption of the district's final 2020-21 budget will be deferred until the school board meeting on Monday, June 15. The final budget approval had originally been expected on June 1.
The deferred approval date will provide Tucker with additional time to review potential new legislation and financial information received from Harrisburg and to better understand the impact on the local economy and district revenue sources caused by the COVID-19 pandemic.
Currently, the district anticipates a decrease up to 20% in earned income tax revenue and a 50% decrease in transfer tax revenue collected by the district. The lost revenue and the deficit it will create in the budget has made it necessary to include a millage rate increase of 1.25% in the proposed final budget. Solanco's current tax rate is 10.8251 mills, and the proposed 2020-21 millage rate is 10.9604. The millage rate increase would result in a property tax hike of $13.53 per $100,000 of assessed home and property value. The median homestead value in Solanco is $197,000. The property tax for the average homeowner would increase by $26.66. The tax increase would generate an additional $320,000 in revenue for the Solanco budget.
The proposed final $60.8 million budget is available for public review by calling 717-940-1513. To make tax payment easier, the Solanco business office is considering implementing a credit card payment system and also providing a drop box option for payment.
Leave a Review