Pennsylvania HB302 provides an additional homestead exclusion allocation for school districts.
Pennsylvania HB302 amends the Taxpayer Relief Act to create an additional homestead exclusion allocation for school districts. Each school district will receive an allocation based on the total number of farmstead and homestead properties, multiplied by $1,000. The allocation will be used to provide an additional exclusion of 50% of the real estate tax due for each property, or $1,000, whichever is less. Before the allocation, school districts must report the number of properties and the total amount of taxes to be reduced to the Department of Education, which will then certify the report.
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