Property tax rate dropping to 5.3 mills in Leet Township
Leet Township property tax bills should arrive this week with a new, lower millage.
On Monday, commissioners approved lowering the township's property tax rate from 7 mills to 5.3 mills.
Last month, some residents said their property 2013 tax bills increased $300 to $900 annually.
But the assessed value of property in Leet increased about 39 percent — from $92 million in 2012 to about $128 million in 2013, according to Allegheny County data — so the rate must be lower to keep bills about the same.
Under state law, officials must reduce millages so not to reap a “windfall” of extra tax money after a reassessment.
Leaders in municipalities around Allegheny County have cut their tax rates for that reason.
Taxing bodies are permitted to collect 5 percent more in revenue compared to the prior year during a reassessment year; to collect more than that requires a judge's approval.
Leet Commissioners initially had considered a 5.5-mill tax.
Bobby Cherry is a staff writer for Trib Total Media. He can be reached at 412-324-1408 or email@example.com.