School district’s tax-rate flub led to $900K deficit
FALLSINGTON, Pa. (AP) — Officials at a Pennsylvania school district say a single-digit tax rate typo created a nearly $900,000 deficit for the school district.
The Philadelphia Inquirer reports that a school board resolution from the Pennsbury School District in Falls Township incorrectly set the millage rate for the upcoming school year.
Millage rates are used to calculate property taxes. The district incorrectly set the rate at 170.076 instead of 171.076.
The district’s chief financial officer, Stephen Berdnik, says the mistake wasn’t caught before tax bills had already been mailed out and the district’s solicitor was concerned about possible litigation if a change was made retroactively.
Most of the deficit has already been made up because actual property values were higher than assessed and there was a higher-than-normal tax collection rate in the district.
Information from: The Philadelphia Inquirer, http://www.inquirer.com