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The Homeowner Tax Relief
Act
Act 72 of 2004
Governor Rendell signed Act 72 of 2004,
The Homeowner Tax Relief Act, on July 5, 2004. This law will
ease the financial burden of home ownership by providing school
districts the opportunity to offer lower property taxes to
homeowners by implementing an additional earned income and net
profits tax or a personal income tax. Participating school
districts will qualify for a state property tax reduction
allocation funded by gaming revenue. It is anticipated that,
ultimately, gaming will generate $1 billion each year for local
property tax relief.
School districts that currently levy an
EIT have two ways to qualify for a state property tax reduction
allocation: (1) pass a resolution by May 30, 2005 to levy the
additional 0.1% EIT or (2) propose a property tax relief
question at the November 2005 municipal election.
School districts that do not currently
levy a local EIT are not required to levy a 0.1% EIT by May 30,
2005 or to propose a property tax relief question at the
November 2005 municipal election. These school districts can
qualify for property tax relief funding by passing a resolution
by May 30, 2005 to propose a property tax relief question at the
November 2007 municipal election.
Please visit www.pde.state.pa.us/proptax for more information. If you have any questions regarding Homestead Exclusion contact the Clinton County Assessment Office at (570) 893-4031. For a Clinton County Exclusion form click here. You will need a copy of Adobe Acrobat to view and print this document. |
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