Baldwin officials to finalize budget next month
A vote next month likely will finalize Baldwin Borough's property tax rate for 2013.
The rate will reflect an additional 5 percent in tax revenue compared to last year — something which is permitted as part of the court-ordered countywide property reassessment process.
Baldwin Council members met on Tuesday for a continuation of their Jan. 15 meeting to adopt the town's 2013 budget. Municipalities in Allegheny County have until Jan. 31 to pass their final budgets for 2013, thanks to an extension granted by Allegheny County Senior Common Pleas Court Judge R. Stanton Wettick Jr., who is overseeing the countywide reassessments.
Council Tuesday, in a 5-0 vote, approved Baldwin's 2013 budget, which includes a $10,867,935 general fund and $7,866,627 sewer fund. They also agreed to set a “revenue neutral” tax rate for community of 5.15 mills.
Council members, then, agreed to advertise an adjusted final tax rate for the town of 5.41 mills.
Municipalities must change their property tax rate to become “revenue neutral” based on the final certified reassess values of properties, meaning they will not get any surplus funding from the property reassessments.
Municipalities can, however, take a 5-percent “windfall,” which Baldwin officials have opted to do. This will be reflected with the new rate of 5.41 mills.
Borough leaders have said they are taking the additional 5-percent to allow for the reimbursement on any outstanding property appeals in the community. Any additional money will be put into the capital reserve fund, officials have said.
Stephanie Hacke is a staff writer for Trib Total Media. She can be reached at 412-388-5818 or email@example.com.