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Council Adopts 2017 Budget after Public Hearing on April 17th

At the conclusion of the Saturday, March 11th Budget Work Session, Borough Council Introduced the 2017 Municipal and Sewer Utility Budgets.

After Public Hearing during the Regular Borough Council Meeting on Monday evening, April 17th, the 2017 Budgets were officially Adopted.

Municipal Budget

The 2017 Budget slightly increases the Local (Municipal) Tax Rate to $1.20 per $100 of assessed valuation, up 1.22¢ over last year — a 1% increase.

For a home assessed at the 2017 Borough average of $147,600 the increase amounts to $16.19 per year ($4.05 per quarter / $1.35 per month) over last year’s average home with an assessed value of $147,750. This percentage increase is less than 1% – just .92% in fact – and well under state-mandated caps. The Borough has now increased taxes less than 1% per year since 2014.

The total Local Purpose Taxes to be paid by the average homeowner this year are $1,771.57. By way of comparison, that’s a 2.67% increase over the local purpose taxes paid by property owners in 2014 — just $46 over three years.

While the total 2017 Budget is $8,073,578, after including all items of revenue the total amount to be raised through taxation for all Borough operations is $5,726,376 or $48,995 (0.86%) over 2016.

The Borough utilized $865,000 in Fund Balance (surplus) this year while maintaining $1,433,544 in Fund Balance for use in future years. Maintaining a healthy surplus, and strategic use of these “rainy day funds” contributes to long-term tax stability.

This Budget maintains or expands all existing services and includes a 2% increase for staff.

See the 2017 Budget by selecting the link below;

Palmyra 2017 Introduced Budget

The 2017 User Friendly Budget and other important information can be found on our Finance webpage.

Sewer Utility Budget

The 2017 Sewer Utility Budget is just over $1.9M with spending on operations and salaries up a total $76,565. Sewer Utility fees did not see an increase however.

A driving factor in the Sewer Utility Budget remains the debt service associated with the recently completed $3.4 million Sludge Thickening and Odor Control Improvement Project at the Sewer Plant.

The improvements included major equipment upgrades and the latest sewage treatment technology. In addition, the life of the Sewer plant has been extended an additional 50 years.

The Sewer Utility Budget maintains or expands all existing services and includes a 2% increase for the three full-time and one part-time employee.