Chester County Real Estate News at a Glance: Week ending December 11th
Phoenixville passes rental ordinance amendments
Phoenixville Borough Council voted to pass amendments to their rental ordinance. The changes include an update to their rental registration form and also a definition of “owner occupied.” Additionally, the changes put in place a tenant nuisance system modeled after West Chester. The council briefly discussed the future possibility of establishing a requirement for landlords to live within five miles of the borough. The Suburban REALTORS Alliance is actively working on this issue.
Pocopson’s Barnard House to be used as township center
When Chester County officially turned over the historic Barnard House to Pocopson last fall, the township expressed a desire to use the property as administrative offices. It was also going to share its space with the currently defunct Kennett Underground Railroad Museum, which closed its doors nearly five years ago. But as the supervisors explored their options for the building and the 68-acre lot it sits on, the idea to transform the land into an extensive community campus finally took hold. Township Supervisor Georgia Brutscher said that the campus, located on South Wawaset Road adjacent to the Pocopson Home, would be the township’s center, a place where community groups can meet and families can gather and enjoy the open space and extensive township-wide trail network.
Source: Daily Local; 12/6/09
No new taxes for Pocopson
Despite a number of upcoming projects still in the pipeline, there is no tax increase on the horizon for Pocopson. The proposed budget — presented to the public on Monday, Nov. 23 — is fairly straightforward with nothing unusual to note. Currently the millage rate in Pocopson is 1.2 mills for real estate, with an additional 1 mill open space fund tax, for a total of 2.2. mills. A mill is a tax of $1 for every $1,000 of assessed real estate value. That means for a house assessed at $250,000, there is an annual tax of $550.The 2010 budget is available for review on the township’s Web site here.
Source: Daily Local; 12/6/09
Downingtown staff cuts, tax hikes looming
Downingtown Borough Council members must weigh raising taxes against laying off employees as they attempt to balance the 2010 budget. A $260,000 deficit must be eliminated in the coming weeks. Municipal governments in Pennsylvania are forbidden from adopting a budget that carries a deficit. Council’s budget committee will provide the full council with recommendations for cuts at its work session Dec. 16 in hopes of balancing the budget. The public will be able to review the budget and provide comments. Real estate tax, transfer tax revenues and investment returns have been down. These three major revenue streams have been cut by $150,000 from what was projected in 2009, leading to the deficit. Council has three options to consider. The first is to dip into the general fund cash reserve. The second option is for council to raise taxes. In order for the budget to be balanced, the taxes must increase 0.8 mills. That would bring the total property tax rate in the borough up to 6.9 mills. The proposed tax increase would be a 13 percent jump for taxpayers, increasing the average tax bill by $80 per year. The third option for council is to cut employment within the borough.
Source: Daily Local; 12/6/09
Budget panel presents its recommendations to Tredyffrin officials
Tredyffrin Township’s preliminary 2010 budget met some opposition at a recent supervisors meeting. Concerns surrounded budget cuts planned for Tredyffrin fire companies. And confusion arose about a recommendation from the Budget Advisory Working Group, a panel of civic volunteers helping to develop suggestions on how to improve the township’s finances. The group worked for months to write a report for township supervisors with recommendations on how to save money and find revenue. The report is available for viewing on the township’s Web site, www.tredyffrin.org.
Source: Daily Local; 12/5/09
Phoenixville Borough Council passes budget with no tax increase
Phoenixville Borough Council passed its proposed 2010 budget with no tax increase. Council voted on several issues at a Nov. 24 meeting that helped lower a proposed tax hike to zero. The borough will renegotiate the Community Development Corp.’s contract to reduce costs by 50 percent, or $62,500. Last December council accepted a five-year agreement with the corporation at $125,000 per year. Buckwalter said the 2010 budget is advertised as proposed and incoming council members may reopen it if they choose in January.
Source: Pottstown Mercury; 12/8/09
No property taxes in West Bradford
While most municipalities are feeling the pain of the recession through a reduction in revenue, West Bradford’s chief source of revenue, the earned income tax, has remained fairly steady so far. As a result the township has no plans to institute a property tax, which was abolished in 1972, but residents will see their trash fees go up slightly. About 60 percent of the township’s revenue in the general fund comes from the earned income tax, which was estimated at $1.78 million in 2009 and is estimated to be $1.68 million in 2010. The second largest source of income is the real estate transfer tax, which represents 10 percent of general fund revenues. That income has declined nearly 40 percent from 2007 figures. In 2007, the transfer tax brought in around $500,000 in revenue. In 2009, that number was down to approximately $315,840.
Source: Daily Local; 12/10/09
East Coventry Township to see no property tax increase
East Coventry’s 2010 budget, which will be up for vote on December 14, calls for no property tax increase in the coming year. The average township property assessment is $165,000, meaning the 3 mil real estate tax will cost the average property owner $495 in taxes. The full budget is available on the East Coventry Township website.
Source: PottsMercury; 12/9/09
