State College Borough Council on Monday will vote on a proposed $80 million budget for 2023 that includes a real estate tax increase for the first time in three years.
The 8.9% increase of 1.623 mills will bring the borough’s total millage to 19.833. For a property valued at $300,000 — the median value for single-family residential properties in the borough — the increase equals an additional $104 a year for properties without a homestead exclusion and $64 for properties with a homestead exclusion.
The 8.9% increase of 1.623 mills will bring the borough’s total millage to 19.833. For a property valued at $300,000 — the median value for single-family residential properties in the borough — the increase equals an additional $104 a year for properties without a homestead exclusion and $64 for properties with a homestead exclusion.
