SB76 Tax Change Calculator
SB 76, the Property Tax Independence Act, is designed to eliminate school property taxes. It does not impact the county, township/borough property taxes assessed each spring. The elimination of school property taxes would occur over time since property taxes will still be assessed to cover existing debt obligations. The debt obligation, and thus the tax elimination, varies from district to district. The average homeowner in Schuylkill County will still pay about 24% of current school property taxes. In Dauphin County, it is about 23.38%.
Changes under SB 76:
- Personal Income Tax (PIT) increases by 1.88%, from 3.07% to 4.95%
- Sales tax increases by 1%, from 6% to 7%
- Sales tax expands to cover more items
This calculator will help you to see how the changes made by SB 76 will affect your household's finances.
Click on the question mark icons
for more information.
Property tax rate based on Williams Valley School District.
|Property Assessed Value|
|Real Estate Tax Amount|
|IRS Tax Rate|
Enter "0" if you do not itemize. Otherwise, enter your Federal Income Tax rate. See this article for more information: https://www.irs.com/articles/2016-federal-tax-rates-personal-exemptions-and-standard-deductions
|Sales Tax Deduction|
To calculate Sales Tax Deduction for additional 1% Sales Tax, find your allowable sales tax deduction based on the following IRS sales tax deductions calculator: https://apps.irs.gov/app/stdc/
Items/Services included in expanded sales tax:
For a complete list, see http://www.senatorargall.com/new-taxable-items/
|Total Yearly Expanded Expenses|
|R.E. Tax Reduction|
|Federal Tax Reduction|
|Total Reduction in Taxes|
|Additional Sales Tax Increase|
|Expanded Sales Tax|
|Federal Tax Increase|
|Total Additional Taxes|
Net change in taxes under SB 76:
(A positive/red amount indicates you will pay more, a negative/green amount indicates savings)