Bellefonte Borough Budget

The 2025 budget was approved at the Borough Council Meeting on Monday, December 16, 2024.

2025 Bellefonte Borough Budget Book

FAQ

What is a Mill?

A mill equals $1.00 per $1,000 of the US dollar, or expressed as a decimal = 0.001 dollars of the assessed value.

What is a mill worth in Bellefonte Borough?

You can figure out a rough calculation by taking the Borough’s Assessed Value average ($45,000) and multiply it by a mill.
$45,000 x 0.001 = $45 per mill is average annual amount paid

What is the current millage rate in Bellefonte?

The 2022 rate is 17.765.
Let’s say the assessed value of your property is $45,000. To figure out how much you would pay in real estate taxes you would take:
17.765 / $1,000 = $0.017765
0.017765 x $45,000 = $799.425
Therefore, in 2020 you paid roughly $800 in real estate taxes

Where do you find out the taxable assessed value of all real estate of your municipality?

All counties in Pennsylvania keep this information. Near the end of the year, the county produces a “book” that lists all of the property owners by parcel along with the assessed value for each. The book is known as the tax duplicate and is used by your tax collector to prepare the annual tax bills for each property. Real Estate bills are paid throughout the year and at various rates. There is a discount period at the beginning of the year (20% discount through April 30), followed by the flat rate period (from May 1 through June 30) then the penalty period (10% penalty from July 1 through December 31). If the bill is not paid by the end of the year, the Tax Collector is required to lien the property. During the year, interim assessments are made due to new construction.

What’s the difference between Assessed Value and Market Value?

Assessed Value is the value of the property that has been assessed by the County. The County has not reassessed property values since 1994. Market Value is the value of the house depending on the housing market; this is typically much higher value than the assessed value.

How does Bellefonte Borough determine the amount of real estate taxes that will be collected?

A simple way is to track the collection rate over the past years to determine the average amount collected as a percentage of the original levy (duplicate X tax rate), then apply this percentage to the current year levy and use the result as the amount budgeted.

Past Budgets:

2024 Bellefonte Borough Budget Book

2023 Bellefonte Borough Budget Book

2022 Bellefonte Borough Budget Book

2021 Bellefonte Borough Budget Book

2020 Bellefonte Borough Budget Book

2019 Bellefonte Borough Budget

2018 Bellefonte Borough Budget

2017 Bellefonte Borough Budget

2016 Bellefonte Borough Budget

2015 Bellefonte Borough Budget

2014 Bellefonte Borough Budget