Township Finances and Taxes
Budget
Township Revenue
Real Estate Property Tax (2.23 mills)
Chester County assesses properties for real estate tax purposes, including the Township's, School District's, and County's tax. The last reassessment occurred in 1996-7. New properties are assessed by the County when built. All other properties still have the same assessments unless they were appealed or some improvement or addition requiring a building permit prompted a reassessment by the County. Assessments can be obtained from the Chester County Assessor’s Office.
Statement of Assessment Valuations (as of 2010)
Type of Property Total Value No. of Parcels Residential $2,493,085,619 11,282 Commercial $1,042,341,390 530 Industrial $17,027,590 6 Agricultural $6,795,180 12 Vacant $13,924,580 48 Total Assessment/Parcels $3,573,174,359 11,878 Tredyffrin's tax rate in 2009 is 2.23 mills. "Mills" are the amount each property is taxed per $1,000 valuation. For example, a property with an assessed value of $100,000 would pay $100,000 x .00223 = $223.
Real Estate Tax Millage Rates
Tredyffrin Township 2.23 (2010) Chester County 3.965 (2010) Tredyffrin-Easttown School District 17.47 (2009)
Local Services Tax ($52/year)
Every individual who engages in an occupation within the Township of Tredyffrin shall pay a local services tax to the Township in the amount of $52 per person per calendar year. This tax shall be used for police, fire or emergency services, road maintenance or real estate tax reduction purposes. This tax applies to any person engaged in any trade, profession, business or undertaking of any type, kind or character, including services, domestic or other, carried on or performed within the corporate limits of Tredyffrin Township, whether in the employ of another or self-employed for which compensation is charged or received, whether by means of salary, wages, commission, fees or otherwise, for services rendered.
People who earn less than $12,000/year are eligible for a refund.
- Local Services Tax Ordinance (6 pages, 94 KB)
- 2010 Local Services Tax Return Form (1 page, 92 KB)
- 2009 Local Services Tax Return Form (1 page, 92 KB)
- 2008 Local Services Tax Return Form (1 page, 100 KB)
- Local Services Tax Return Instructions (1 page, 46 KB)
- Memo to Business Owners (1 page, 64 KB)
- Local Services Tax Application for Refund (2 pages, 20 KB)
- Exemption Certificate (2 pages, 140 KB)
- 2007 Emergency and Municipal Services Tax Refund Form (1 page, 48 KB)
- 2007 Emergency and Municipal Services Tax Return Form (1 page, 88 KB)
Real Estate Transfer Tax Rate
The transfer tax is paid when property is sold.
Tredyffrin Township 1.0% Tredyffrin-Easttown School District 0.5% Commonwealth of Pennsylvania 1.0% Total Transfer Rate 2.5%
Other Taxes
Mechanical Amusement Devices $200 per device annually
Fees
Sewer Utility Fee
Residential $250 Commercial/Industrial $250 per Equivalent Dwelling Unit (EDU)* * 1 EDU = 3,550 sq. ft.
Fees for permits, recreation programs and other services
Other Revenue
Other Township income derives fee from State and County funds, fees for services, fines and penalties, some miscellaneous income and the cash balance remaining from the previous year.
Major debts for capital expenditure are financed through the sale of bonds or other forms of borrowing.
Aaa Credit Rating
As of February 1, 2002, Tredyffrin Township was the second township in the Commonwealth of Pennsylvania to ever be assigned a Aaa grade rating by Moody's Investors Service. The Aaa rating is the highest of all Moody's bond ratings.
This rating was based on Moody's assessment of the Township's ability to meet its financial obligations and reflects its strong financial operations, tax base growth, high wealth levels and moderate debt burden. Moody's expects the Township's financial operations to remain very strong.
The Township's last credit rating was in 2009 during a bond refunding process. Moody's reaffirmed Tredyffrin's Aaa rating.
The Aaa rating helps the Township achieve lower interest rates on bond issues for such purposes as highway construction, park acquisitions, and other infrastructure expenditures. It equates to a savings of approximately five basis points (.05 percent) over the term of a 25-year bond issue.
Audit
Elected Auditor
The Elected Auditor serves for a 4-year term beginning on the first Monday of January following the year in which he/she is elected. The Elected Auditor must be a resident of the Township and must be qualified by education, training, or experience in accounting or financial management to perform the duties of the office.
The current Township Auditor, Rob Miller, was elected in 2008. His role is to provide oversight to the annual independent audit process by:
- Meeting with the outside auditors at the beginning phase of the audit to discuss procedures and any concerns the outside auditors have
- Receiving and reviewing copies of the audit reports and associated letters
- Attending an audit exit interview with the Board Of Supervisors to discuss the results of the audits and provide comment on how well it went and any issues
Appointed Auditor
Barbacane Thornton is the appointed independent public accounting firm that conducts the Township’s annual audit of financial accounts, records and procedures.
2007 AUDIT REPORTS
2007 TOWNSHIP REPORT TO THE BOARD OF SUPERVISORS (20 PAGES, 1.4 MB)
2007 TOWNSHIP ANNUAL AUDIT AND FINANCIAL REPORT (73 PAGES, 2.4 MB)
2007 TOWNSHIP MUNICIPAL AUTHORITY REPORT TO THE BOARD OF SUPERVISORS (13 PAGES, 967 KB)
2007 TOWNSHIP MUNICIPAL AUTHORITY REPORT (38 PAGES, 2.5 MB)
2007 TOWNSHIP POLICE PENSION FUND REPORT TO THE BOARD OF SUPERVISORS (11 PAGES, 840 KB)
2007 TOWNSHIP POLICE PENSION FUND REPORT (21 PAGES, 1.1 MB)
2007 TOWNSHIP NON-UNIFORMED EMPLOYEES MONEY PURCHASE PENSION FUND PLAN TO THE BOARD OF SUPERVISORS (9 PAGES, 747 KB)
2007 TOWNSHIP NON-UNIFORMED EMPLOYEES MONEY PURCHASE PENSION FUND PLAN REPORT (17 PAGES, 942 KB)
2007 TOWNSHIP SECTION 457 DEFERRED COMPENSATION PLAN TO THE BOARD OF SUPERVISORS (9 PAGES, 741 KB)
2007 TOWNSHIP SECTION 457 DEFERRED COMPENSATION PLAN REPORT (16 PAGES, 857 KB)
