property management, real estate

Tax Increase/Rent Increase

Do you think rents will be going up?  Yes . . .  Along with utility increases, housing regulations-codes, licensing, landlords are also facing huge tax increases.  With a tight rental market, these will be passed on to the tenants.

Lancaster residents are sure to see a tax increase this year, but the question is how much?

Lancaster City Council in December approved Mayor Rick Gray’s budget, which included a 7.5 percent tax increase this year.

Now the School District of Lancaster is asking the state for exemptions to raise taxes above the Act 1 index of 2.8 percent to a maximum of 11.5 percent.

While it’s no guarantee the district would actually increase taxes by the full 11.5 percent, it’s possible school directors may vote to approve some kind of tax increase.

see: http://www.pennlive.com/midstate/index.ssf/2015/02/how_much_will_taxes_increase_f.html

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