SHARPSVILLE — Sharpsville residents won’t see an increase in their real estate taxes under a 2020 budget approved Thursday.
Council approved the budget unanimously, with council member Patty Cardwell absent.
The spending plan calls for for total expenditures of $5,107,847 in 2020 and keeps Sharpsville residents’ real estate taxes at 25.17 mills.
That means taxes would remain at $462.35 for the owner of a property valued at $18,500, which is the average assessed property value in Sharpsville.
A mill is one dollar for every $1,000 in assessed property value, based on a property’s assessed value.
Although property taxes will remain unchanged, borough residents will see a 2 percent increase in water rates. This increase was not decided by borough officials, but is set by Aqua Pennsylvania, which provides water services to Sharpsville. The borough passes increases on to ratepayers.
A household that uses 4,000 gallons of water per month would see its water bill increase to $50.18.
The real estate tax of 25.17 mills is divided into 21.83 mills for the general fund, 2.17 mills for the Sharpsville Fire Department and 1.17 mills for street lighting. Sharpsville Borough Manager Ken Robertson previously said there had not been a general fund tax increase in about 12 years.
The budget was first proposed at borough council’s November meeting and was available for review for 30 days before final approval by council.
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