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What does it mean?
Pine Supervisors adopted Ordinance 386 in 2018, which permits a homestead/farmstead exclusion for Township property taxes. The exclusion allows part of a qualifying property’s assessed value to be excluded from the tax calculation. The amount, to be determined each year, will be $149,450 for 2020.
How can they do this?
PA Act 50 of 1998 gave local taxing districts the ability to offer a homestead/farmstead exclusion. The amount can’t exceed 50% of the median value of all homesteadproperty in the district, and tax rates can’t be increased to make up for the lost tax dollars.
How does Pine do this?
For the last few years, the Township has had a budget surplus, mainly due to careful financial management combined with a growing tax base. While the Board has wisely set aside funds for future projects, they felt it would also be fair to return some of the surplus to taxpayers. Since Pine already has the lowest millage rate in Allegheny County at less than 1 mil, the Board decided the best option would be a homestead/farmstead exclusion.
How does it work?
Township property tax is based on the assessed value multiplied by the millage rate of 0.998. For example, a property valued at $300,000, pays $299.40 in Township tax. If the property qualifies for the homestead exclusion, $149,450 is subtracted from the assessed value before calculating the tax. So, a $300,000 home is taxed only on $150,550 and the tax is $150.25, a savings of $149.15.
How do I qualify?
You must be approved for the “Act 50 Homestead/Farmstead Exclusion” by Allegheny County. If you’ve already applied to the County and been approved, then you automatically qualify for the Township exclusion. If you haven’t applied yet, you’ll find a link to the application right here “Pine Homestead Exclusion”.
What properties are eligible?
To be eligible, a property must be owner-occupied and be the primary residence. Commercial and rental properties are not eligible.