Housing News

No RE Tax Raise for the Last 60 Years

One town beats others in terms of RE affordability

Residents of Mt. Pleasant Township in Washington, PA, felt nothing new with the announcement they heard: There’ll be no real estate tax increase in 2010. Well, that has been the same news they’ve heard for the last 60 years. The Daily Courier reports, “Property owners in Mt. Pleasant Township have received an early Christmas present — no real estate tax increase. Supervisors passed the 2010 budget Monday and kept the millage rate at 2.42.”

New Yorkers might be so astonished at how these people pay their property taxes. Tell that to someone with a $100,000 home value in Syracuse whose tax runs at least $3,000. Somebody’s worse in Binghamton who’s paying more than $5,000 for the same home value.

But with these taxes in the Big Apple, you wouldn’t expect to be reading this news from The Guardian last year, “Both of New York City’s underpeforming real estate tax revenues are based on sales of offices, warehouses, apartments and single-family homes. The number of deals has slowed, though with some properties, such as Manhattan apartments, prices still rose substantially in the last quarter. Real property transfer taxes fell 12.7 percent, or nearly $162 million, from the same period a year ago, according to Democratic Comptroller William Thompson. At the same time, mortgage recording tax collections were down 20.1 percent, or $234 million.”

Yes, that’s how complicated things would turn out with a larger city.

But in the same Daily Courier report about Mt. Pleasant Township, the town officials were worried that their budget dwindled after losing from liquid fuels (no other detail about this was provided though). According to the town supervisor, they’re receiving phone calls asking them how they managed to maintain property taxes at the same rate.

Well, that’s easy to answer. Mt. Pleasant Township is far from what NYC is taking in terms of tax revenues. It has fewer residents too. And yes, it has no corrupt Wall Street CEOs parading their fat paychecks to the public.

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