Thursday, December 23, 2010

Media Borough passes 2011 Budget with no Tax Increase!

In trying economic times, especially in municipalities across the county who have had to raise taxes, kudos to Media Borough Council for holding the line and working within a budget that will NOT require a tax increase for the 2011 budget.

Per Media Town Talk:

Media Borough’s total $8 million 2011 budget was passed with no tax increase. The rate remains at three mills which is $375 for the average assessment of $125,000. The borough’s general fund budget is $7.1 million with three other smaller budgets including a Capital Fund of about $680,000.
Revenues are supported by property taxes of $1.1 million, but the greater amount of tax revenue is from Act 511 taxes which include a one percent Earned Income Tax (EIT), mercantile and business privilege taxes of about $3.4 million.

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