The Township Supervisors Tuesday night authorized advertisement of a budget for next year that does not ask homeowners to dig any deeper into their pockets. Sewer rates are staying steady too.
The spending plan also maintains the homestead exemption at 45,000. Township Manager Rob Ford says it’s a lot like a property tax rollback for the homeowners that take advantage of it.
“Let’s say your house is assessed at 145,000, that is the amount the county and municipality will tax you on. However, in Towamencin we’re one of the few municipalities to have the Homestead Exemption. We deduct an amount and this year it’s 45,000 for the assessed value and say will only tax you on 100,000. So for the average median price house on Towamencin Township, you’re saving 171 dollars a year.”
This is the 8th year in a row that Township officials have adopted a budget without raising property taxes.