The newly proposed settlement negotiated between the Township and the School District is a fair market value of $80,000,000.00 for Tax Year 2024. Applying the applicable Common Level Ratio, the assessed value would become $28,400,000.00, resulting in a decrease of the assessed value of $1,130,700.00 for 2024.
The proposed fair market value for Tax Year 2025 is $82,000,000.00. Applying the applicable Common Level Ratio, the assessed value would become $26,978,000.00, resulting in a decrease of the assessed value of $2,552,700.00 for 2025.
The proposed fair market value for Tax Year 2026 is $87,704,811.00. Applying the applicable Common Level Ratio, the assessed value would become $26,978,000.00, resulting in a decrease of the assessed value of $2,552,700.00 for 2026.
This settlement is premised upon the negotiated terms between the Township and the Taxpayer.
The charts below display the effect of the change to the Township’s taxes for 1400 S. Trooper Road, if the new settlement offer is accepted.
WEST NORRITON
Tax Year | Old Assessment | New Assessment | Decrease | Millage Rate | Refund/ Reduction |
2024 | $29,530,700 | $28,400,000 | $1,130,700 | .004475 | $5,059.88 |
2025 | $29,530,700 | $26,978,000 | $2,552,700 | .004475 | $11,423.33 |
2026 | $29,530,700 | $26,978,000 | $2,552,700 | .004475 | $11,423.33 |
Based on the proposed settlement, the Taxpayer will be due a refund in the amount of $16,483.22 for tax years 2024-25, and the Taxpayer’s tax obligation will decrease by $11,423.33 for tax year 2026 and subsequent tax years, assuming a consistent millage rate.