Comm Christy: Reassessment means Lower Taxes for Most Borough Residents
Mount Pocono Borough Council - Aug 8 2019 -- Monroe County Commissioner John Christy (D-Stroud Twp) attended last night's Borough Council meeting with some good news for Borough residents.
Preliminary figures indicate that nearly 70% of Mount Pocono property owners will experience reductions in their real estate tax liabilities.
Commissioner Christy said that the Commissioners had examined the current re-assessment figures. That review suggests, the Commissioner told the crowd at the Council meeting, that County Tax mils will be reduced from the current 21.25 mils to 4 mils.
The Commissioner brought with him an analysis of the impact of such a reduction on Mount Pocono tax payers. Here in the Borough, the County is estimating that about 69% of property owners will have a reduction in their County real estate tax liabilities, 10% will remain the same, and about 21% will see an increase.
The decrease in Mount Pocono is greater than in most municipalities in the County. According to the figures presented last night, roughly twice the percentage of homeowners will see their taxes go down here than elsewhere in Monroe County. Mr. Christy pointed out that the figures are not final -- assessment appeals will impact the actual numbers. By law, reassessment must be "revenue neutral". This means that no taxing authority is permitted to reap an increase in tax revenue as the result of reassessment. In order to satisfy the revenue neutral requirement, the County will be reducing its mils by about 82%. School districts and municipalities like the Borough will need to do likewise once the final numbers are provided to them in November.