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Resolution of the County of Allegheny, Commonwealth of Pennsylvania, urging all School Districts in Allegheny County to pass the appropriate resolution by May 30, 2005 to implement Act 72 School District Property Tax Relief; an action that will ensure that property owners in the school district are eligible for state-funded property tax relief.
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WHEREAS, in July of 2004, the Pennsylvania General Assembly enacted Act 72 of 2004, the Homeowner Tax Relief Act, which provides the means for state-funded property tax relief to be implemented throughout the Commonwealth; and
WHEREAS, the state-funded property tax relief will come from two sources: (1) a tax on expanded gaming which is expected to generate up to $1 billion a year for tax relief (34% of gross revenues from gaming will be used for tax relief); and (2) the imposition of a local 0.1% earned income tax (EIT) by the school district, all of which would be used to fund property tax relief in that specific school district; and
WHEREAS, the impetus to implement the state-funded property tax relief is on local school boards that must pass a board resolution by May 30, 2005 in order for that district's taxpayers to receive state-funded property tax relief; the board resolution must (1) authorize the levying of an additional 0.1% local earned income tax; (2) propose a ballot question for the 2005 Municipal Election to ask voters whether they want to shift towards a local income tax; and, (3) for school districts that do not currently levy an earned income tax, propose a ballot question for the 2007 Municipal Election to ask voters whether they want to impose an earned income tax; and
WHEREAS, participation in Act 72 is not mandatory, but school districts that do not participate will not qualify for state property tax relief funding, resulting in higher property taxes for property owners in that district; once property tax relief is fully in place, property taxes are expected to decrease...
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