From the Allegheny Institute for Public Policy
February 16, 2010

The bottom line is that property taxes will increase.

In this budget forecast scenario a Mt. Lebanon household with the municipality’s 2008 median income of $77,167 and owning a home with the median value of $190,000-that is correctly assessed-will see school real estate taxes go from the current $4,580 to $6,437, assuming the home’s assessed value stays at its current level.   This will be accompanied by a $385 per year earned income school tax, more if the household is fortunate enough to have its income increase over the next five years.

Then there is the earned income tax paid to the municipality along with property taxes to the municipality and county: another $2,400 per year -assuming municipal and county tax rates do not rise.  In sum, under the projected tax increases the owner of a median value house could be facing well over $9,000 in local taxes each year by 2015.

Read the full article here.