Note: All graphs in this post are BEFORE any credit from the gambling revenue to the tax bill. They also ONLY look at Chester County for Districts that cross county lines.
Everywhere you turn, you hear people exclaim, "Octorara has the highest mills in the county!" But that is only part of the story.
Per the next slide you can see, that indeed, we do have the highest mills.......but......
Mills in Chester County
....we have the lowest mill value.......
Millage Value
......and next to lowest assessment......
Assessments
Our tax on average assessment is right smack-in-the-middle of the pack......
Tax on Average Assessment
If we had started looking at the average assessment & the mill value, it would make sense that our mills would be near the upper end. There is almost an inverse relationship between the value of a mill and the number mills charged. When your mill value is over $8 million, you can charge less mills to get the funds needed. When your mill value is $668 thousand, you need a lot more mills to get the funds you need.
Quick lesson in calculating the tax amount:
For this example, we will use Octorara's mills (36.6) and average assessment ($124,000)
36.66 mills x .001 = .03666
.03666 x 124,000 = $ 4,545.84 rounded to $4,546 on the graph above. Again, this is before any credit for the gambling revenue.
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