Releases

Property Tax

IFO Releases

Property Tax Replacement Estimates

May 23, 2019 | Property Tax

In response to a legislative request, the IFO has posted a letter that provides revenue estimates for various proposed changes to the state tax code that affect personal income, sales and property taxes.

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Property Tax Rent Rebate Program

May 15, 2019 | Property Tax

In response to a legislative request, the IFO transmitted a letter that analyzes a proposed expansion of the Property Tax Rent Rebate Program.

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SCHOOL DISTRICT PROPERTY TAX FORECAST

March 18, 2019 | Property Tax

This report contains the IFO's forecasted school district property tax collections from FY 2017-18 through FY 2023-24. The report also contains projections of the Act 1 index and estimates of school district property taxes that can be attributed to homesteads.

Total school property tax collections for FY 2017-18 ($14.5 billion) and FY 2018-19 ($14.9 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2019-20 through FY 2023-24, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.2 percent, reaching $17.3 billion by FY 2023-24.

 

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Homestead Exclusion and PIT

March 13, 2019 | Property Tax

In response to a legislative request, the IFO transmitted a letter that computes the level of personal income tax (PIT) increase needed to fully fund a 100% homestead exclusion for school district property taxes.

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PROPERTY TAX ELIMINATION PROJECTION

February 27, 2019 | Property Tax

In response to a legislative request, the IFO has updated projections regarding school district property tax elimination. The document projects the school property tax revenues that would be subject to replacement under potential legislation that would eliminate school property taxes.

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Property Tax Update - August 2018

August 17, 2018 | Property Tax

In response to a legislative request, the IFO updated select tables and graphs related to school district property tax that were originally released in January and December of 2017.

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Budget And Economic Update with Property Tax Discussion

June 05, 2018 | Property Tax

Director Matthew Knittel gave a budget and economic update to the Pennsylvania Association of School Business Officials (PASBO). Revenue Analyst Jesse Bushman also discussed an updated school district property tax forecast and recent proposed legislation. 

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Fiscal Impact of School Property Tax Rebates

March 13, 2018 | Property Tax

In response to a legislative request, the IFO estimated the fiscal impact of a school property tax rebate for all homesteads. The rebate would be equal to the statewide average school property tax paid by homesteads. The response includes both baseline estimates for currently eligible homesteads and estimates for a behavioral effect based on the filing of additional homestead applications in response to the availability of rebates.

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School District Property Tax Forecast

January 18, 2018 | Property Tax

This research brief contains the IFO's forecasted school district property tax collections from FY 2016-17 through FY 2022-23. The brief also contains estimates of school district property tax collections that can be attributed to homestead property. 

Total school property tax collections for FY 2016-17 ($14.0 billion) and FY 2017-18 ($14.4 billion) are estimated using millage rates published by the Pennsylvania Department of Education and property tax assessment data. For FY 2018-19 through FY 2022-23, collections are projected based on the statutory, economic and structural factors that affect growth rates of property taxes. During that period, total school property tax collections are projected to grow by an average annual rate of 3.3 percent, reaching $17.0 billion by FY 2022-23.

Full Report

School Property Taxes; Households Age 60, 65 and 70 or Older

December 11, 2017 | Property Tax

In response to a legislative request, the IFO analyzed data from the American Community Survey (ACS) to estimate the share of school property taxes paid by households in which the householder (or spouse, if applicable) had attained the ages 60 or over, 65 or over and 70 or over. The analysis applies the shares derived from the ACS to estimated school district property tax collections attributable to homestead properties for FY 2015-16 to further estimate the dollar amounts paid by such households.

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