School Taxes Up Less Than Expected

Hatboro and Horsham homeowners will pay more in school taxes under Hatboro-Horsham School District’s $88.3 million budget – but the levy is less than originally anticipated.

During Monday night’s meeting, the board adopted the district’s spending plan which, at 1.59 percent more, falls slightly below the 1.7 percent increase permitted under the state’s Act 1 index. 

For the average Hatboro resident, the tax increase means an extra $49.25, while the average Horsham resident would pay $72.42 more, according to Bob Reichert, the district’s director of business affairs. 

The tax boost represents $40.60 for every $100,000 of assessed property value and raises the millage rate from 25.41 to 25.816.

Reichert said 8,243 qualified district homeowners would see a $251.96 reduction in property taxes with the Homestead/Farmstead exclusion. In all, the district will receive just over $2 million in state gambling proceeds to cover the tax reduction. 

When the board adopted its preliminary spending plan in May, it had initially called for a 1.69 percent tax increase. At that rate, residents of both communities, on average, would have paid about $3 more in taxes.

Reichert pointed out that this budget cycle marks the seventh year in a row that the district has been able to stay at or below the Act 1 index.

And, the district went below the that target without furloughing staff or causing “any financial hardship to the district’s financial position going forward,” Reichert said.