Chester county real estate news – week of November 27
Cost of living to rise in Kennett Square if council approves new budget
It will cost anywhere from $500 to $1,200 more to live in Kennett Square next year, if the proposed budget is adopted next month. The bottom line: Taxes will go up one mill (or amount of tax per thousand dollars of property value); water costs for residents will increase an average of $60 per year; sewer costs will increase an average of $65 per year; and it will now cost residents $220 annually to dispose of their trash. Trash disposal had been free. The proposed $4.6 million budget would keep services at about the same level. Wages of non-uniformed employees will be frozen in 2010, and all capital outlay in the general fund has been removed except for one new police car. The borough is exploring the possibility of selling its water system to Aqua or the Chester Water Authority. The residential rates for water could go up if Aqua took over the water system, and down if Chester Water Authority took it over, but the borough would receive a windfall that could be applied to the general fund. The budget will be reviewed at the Dec. 7 meeting.
Source: Chester County Press; 11/18/09
West Chester Council approves preliminary budget
West Chester Borough Council passed a preliminary 2010 budget that calls for a 3.4 percent real estate tax increase. The budget also calls for a 10 percent increase in the borough’s sewer rate. Various Council committees will review the preliminary budget in December, and full council will pass a final budget by the end of the year. It appears that the tax hike, which will result in a $23 increase on average residential tax bills, is a near certainty. The economic crisis has strained the borough’s finances and made a tax increase hard to avoid, borough officials said. West Chester, like most Chester County municipalities, is facing rising pension, salary and employee benefit costs. At the same time, the recession has caused the borough’s earned income tax and real estate transfer tax revenues to decline. The preliminary budget would increase the average borough homeowner’s tax bill to $689, approximately $23 over last year’s average. The average single-family home in the borough has an assessed value of $119,000, and the average tax increase was calculated using this figure.
Source: Daily Local; 11/19/09
No new taxes needed to meet W. Nottingham’s 2010 budget
No new taxes are needed for 2010 to meet West Nottingham Township’s proposed budget, approved at its Nov 17 meeting. The new budget totals $574,550, with the largest areas of expenses being $152,450 for road work and road crew salaries, and $64,200 for police department salaries and equipment. The budget is open for public review, with final approval set for December.
Source: Daily Local; 11/21/09
West Chester Borough allows subdivision of courthouse complex
West Chester Borough Council cleared the way for Chester County to sell a large portion of the historic courthouse complex by voting unanimously to subdivide the complex into two parcels. The first parcel contains the 19th-century courthouse, the fountain behind it, and the Market Street annex to its west. The second parcel contains the annex on North High Street, the annex on North Church Street, and several buildings along the unit block of West Gay Street. It is the second parcel that the county will put on the market. Attorney Don Turner, who represents the county, said that selling this parcel will allow the county to continue to preserve the historic courthouse.
Source: Daily Local; 11/22/09
Easttown real estate taxes may increase 12.1 percent
Easttown Township’s Board of Supervisors voted for a preliminary 2010 budget Monday that calls for a real estate tax increase of 12.1 percent. The average assessed property value in Easttown Township is $330,000. In 2009 an owner of a property with that assessed value would have paid $1,109 in real estate taxes to the township. In 2010, if the preliminary version of the budget is approved, that owner would pay about $1,240. The Board of Supervisors will approve the final 2010 budget at its Dec. 21 meeting. If the budget is approved as proposed, the township’s millage rate would increase from the current 3.361 to 3.769 per thousand dollars of assessed value.
Source: Daily Local; 11/22/09
No new taxes in Kennett Township budget
While presenting the township’s preliminary 2010 budget, Kennett Township Supervisors’ Chairman Robert Hammaker noted no new taxes are being proposed. “The only major change in revenues we expect in 2010 is a decrease in real estate taxes due to the decline in real estate values in general,” he said.
