Bucks County Commissioners unanimously passed a $432.6 million 2019 Bucks County budget that keeps the property tax rate at 24.45 mills. A $15.5 million deficit in an earlier draft of the spending plan was closed through new revenue sources, lower projected health and personnel expenses, and the use of $1.3 million of the county’s $35.6 million general fund reserves.
The personnel savings will come through attrition, not layoffs, according to county spokesman Larry King. Chief Operating Officer Brian Hessenthaler called the budget the “most difficult” in his 15 years with the county.
County tax rates are measured in mills, with one mill equaling $1 for every $1,000 of assessed property value.
According to Wikipedia:
“The property tax rate is typically given as a percentage. It may be expressed as a per mil (amount of tax per thousand currency units of property value), which is also known as a millage rate or mill (one-thousandth of a currency unit). To calculate the property tax, the authority multiplies the assessed value by the mill rate and then divides by 1,000. For example, a property with an assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.” Property Tax