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How much will your local real estate taxes increase in 2018?

Another year is coming to a close, which means local municipalities had to pass their 2018 budgets. Below, find out if your local real estate taxes are changing.

Centre County

Real estate taxes: No increase for the eighth consecutive year

County millage rate: 7.84 mills (no change)

Total 2018 budget expenditures: $75.6 million

Total 2018 budget revenues: $73.1 million (budget balanced through reduction in fund balance)

Bellefonte

Real estate taxes: Increasing by  3/4 mill; on average, the borough said, it amounts to $36 per property more per year

Local millage rate: Increasing from 15.265 to 16.015 mills

Total expenditures: $17.6 million

Total revenues: $17.6 million

State College

Real estate taxes: No increase

Local millage rate: 16.4 mills (no change)

Total expenditures: $48.8 million

Total revenues: $48 million (balanced through reduction in fund balance)

College Township

Real estate taxes: No increase

Local millage rate: 5.4 mills (no change)

Total expenditures: $8.8 million

Total revenues: $8 million (budget balanced through a reduction in the township’s fund balance)

Ferguson Township

Real estate taxes: No increase for the 10th consecutive year

Local millage rate: 2.422 mills (no change)

Total expenditures: $22 million

Total revenues: $21 million (budget balanced through reduction in the township’s overall fund balances)

Halfmoon Township

Real estate taxes: No increase

Local millage rate: 4.98 mills (no change)

Total General Fund expenditures: $884,400

Total General Fund revenues: $884,400

Harris Township

Real estate taxes:  1/10 mill decrease; on average, property owners will save $20 a year, the township said

Local millage rate: Decreasing from 5.4 to 5.3 mills (a return to 2016 rate)

Total expenditures: $2.82 million

Total revenues: $2.77 million

Patton Township

Real estate taxes: No increase; a  1/10 mill increase is forecasted for 2019

Local millage rate: 9.5 mills (no change)

Total expenditures: $11.34 million

Total revenues: $11.32 million (budget balanced through a reduction in cash reserve)

Sarah Rafacz: 814-231-4619, @SarahRafacz

How much will your real estate taxes go up?

To determine the dollar amount you’ll be paying in real estate tax, multiply the assessed value of your home by the millage rate and then divide that number by 1,000.

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