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Monroeville officials to consider 1.57-mill tax hike

By Kyle Lawson
Monday, Feb. 10, 2014, 4:48 p.m.
 

Monroeville property owners could see a real-estate tax increase for the second consecutive year.

A proposed 2014 budget put together by municipal Manager Tim Little would increase the tax rate by 1.57 mills. Last year, a half-mill increase resulted in a 2.431-mill tax rate.

The tax hike would generate $3.3 million, amidst a growing debt service and a shortfall of commercial property tax revenue in 2013 due to reassessment appeals, Little wrote in the proposed 2014 budget.

New revenue could be used primarily for two purposes, according to the proposed budget:

• Reduce debt and improve the credit rating by funding capital improvement projects directly, instead of issuing bonds.

• Make an annual contribution to the Other Post Employment Benefits fund, which financial experts recommend to ensure a healthy budget in future years.

If council would approve the budget in March, the owner of a Monroeville home valued at $100,000 would pay $400 toward municipal real estate taxes in 2014. That represents a $157 increase from 2013.

Little declined to comment on the budget until Feb. 11, which he said was the official release date. An advanced copy of the proposed budget was obtained by the Times Express prior to the meeting.

Public hearings to discuss the budget are scheduled for Feb. 26 and March 6.

Kyle Lawson is a staff writer for Trib Total Media. He can be reached at 412-856-7400, ext. 8755, or klawson@tribweb.com.

 

 
 


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