Ben Avon lowers tax millage rate

&emsp;&emsp;Ben Avon Council voted Tuesday to adopt a resolution decreasing the borough's property tax millage rate for 2024.&emsp;&emsp;An increase in the total assessed value of taxable property for this year resulted in officials setting the 2024 millage rate at 4.88351, slightly lower than the 2023 rate of 4.9229 mills.&emsp;&emsp;Ben Avon is unique among local municipalities in that council first determines how much property tax revenue will be needed to cover the borough's expenses for the current year. Along with a budget, each December council also adopts an ordinance that sets out a formula for determining the millage rate for the coming year depending upon Allegheny County's property assessments determined in January. &emsp;&emsp;For 2024, Ben Avon budgeted property tax revenue at the same level as in 2023, $623,110. Because the 2024 assessed value of taxable properties in the borough is over $1 million higher than it was in 2023, a lower tax rate is able to supply the required revenue.&emsp;&emsp;Council finance chair Ken Opipery Jr. said that the total assessed value of Ben Avon real estate for 2024 is $141,588,258, of which some 3.12 percent is tax exempt. That leaves the total taxable value at $137,165,458, or $1.098 million above the 2023 value.&emsp;&emsp;Opipery said that the median value of a home in Ben Avon is $175,950. The average value of "upper tier" or more expensive properties is $257,535. The average value of "lower tier" properties is $107,876, he said.&emsp;&emsp;The decrease in this year's millage rate will mean a slight decrease in borough property taxes due for the owners of properties that have not changed in value in the past year. The owner of a home valued at $100,000 will pay about $492 in taxes this year, compared to $488 last year.