Credit:LevittownNow.com
Bristol Borough is not expected to install an Earned Income Tax for the 2016 budget, which they are planning to vote on adopting this coming Monday night.
The general fund for the 2016 budget is slated for $5,328,807. The general fund for 2015 was $4,923,922. According to the budget meeting which took place on Monday, November 16, the proposed does not include any earned income tax or a local service tax.
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According to James Dillon, the borough manager, the budget for 2016 totals 57.89 mills. This is an increase of 1.25 mills from last year. Each household can expect a cost of about $20 every year. The increase comes from a referendum that the voters approved earlier in the month to benefit the Borough’s first responders, Dillion said.
According to the borough manager, one mill is equal to roughly $72,000 in tax revenue for the borough.
Over the past few years, there has been talk of implementing an EIT to raise revenues. The tax impacts employed residents and those who work in the borough. Residents who do not earn income, like the retired, would not have to pay. In Pennsylvania, 95 percent of townships in the state have an EIT, including Bristol Township, Middletown and Newtown. Some other boroughs, including Penndel, do not currently have an EIT.
