lower gwynedd township, pa 19002 weather

The Business Privilege Tax is paid by business owners and professionals with offices based in Lower Gwynedd Township. Any individual making less than $12,000 in a calendar year can file for an exemption with your employer. This tax is usually collected by payroll withholding and remitted to the Tax Administrator.

The Local Services Tax was enacted in 2011 and is paid by everyone working in the Township. For instance, with a millage rate of 1.493 mills, and a $300,000 assessed value of a home the tax rate would be: To calculate a property tax the formula is always (Mill Rate X Assessed Value). One mill is equal to one-tenth (1/10) of a penny or 1/1000 of a dollar. Property Taxes are expressed in terms of mills per dollar of assessed value. The following is the millage rate and breakdown for the 2023 Fiscal Year: General Purpose

The Board of Supervisors approves the real estate millage rate for the Township as part of the annual budget approval process (usually in early December). The collection of the EIT generates 53% of the revenues received by the Township. This tax is distributed evenly between the Township and Wissahickon School District, each receiving 0.5%. Earned Income Tax (EIT)*Īn Earned Income Tax (EIT) of 1% on gross earnings for individuals and net profits for businesses is imposed on everyone living or working in Lower Gwynedd Township. The following is a list and brief explanation of the taxes enacted by Lower Gwynedd Township. This revenue is used towards police protection, fire protection, street repair and maintenance, parks maintenance and capital improvement projects along with many other services throughout the township to ensure the highest quality of safety for our residents and visitors. For Lower Gwynedd Township 80% of the total revenues come from taxes.

Lower gwynedd township, pa 19002 weather