Personal Tax Calculator for
HB 76 and SB 76, The Property Tax Independence Act
See the difference this legislation can
make in your total tax bill!
NEW! The Property Tax Independence Act Calculator now includes calculations
for Philadelphia and Allegheny County residents.
The
Property Tax Independence Act Tax Calculator is an independently
developed Microsoft Excel application that will give you a projection
of your total school tax liability under the provisions of The Property
Tax Independence Act, the school property tax elimination proposal that
is supported by the PTCC and PCTA. The calculations include the average
increase in sales taxes (SUT) through a broadened and increased tax base
and an increase in the state Personal Income Tax (PIT) to 4.34%. The Property
Tax Independence Act will eliminate school property taxes over a two year
phase-out. If you have not yet read the provisions of this plan, an overview
of The Property Tax Independence Act is available here.
The calculator has been set up to account for everything from the effect it will have on a person's federal income tax (since there would be no longer be property tax to deduct) to low income taxpayers who are eligible for Personal Income Tax (PIT) forgiveness from Pennsylvania.
Other items that are included:
• If someone is a renter looking to buy, they can choose a school district where they plan to buy and it will show them how much their buying power is increased under The Property Tax Independence Act based on the school district where they live (due to elimination of school property tax).
• For low income taxpayers, it calculates the state PIT tax forgiveness if it applies. This offsets most, and in many instances all, of the increase in the state PIT under The Property Tax Independence Act for many low income taxpayers.
Simply complete the applicable boxes on the left side of the sheet. Your total taxes under the provisions of The Property Tax Independence Act will be displayed in the box on the right. If you've had any doubts about supporting The Property Tax Independence Act, this will certainly convince you!
The calculator may be run directly from this site or downloaded for later use. If you download the calculator, please feel free to distribute it to your friends and family so that they, too, may calculate their Property Tax Independence Act school taxes.
Our thanks to Rick Ritter of the Coatesville Taxpayers Alliance for researching
the data and building this calculator.
NOTE: If you can't run the calculator because you don't have Microsoft
Excel installed on your computer, please download the FREE suite of office
tools from OpenOffice.org. This excellent collection of tools includes
a spreadsheet, word processor, presentation program, and database manager
that are all fully Microsoft Office compatible. Click on the logo below
to go to the OpenOffice.org download
site.
Please subscribe to the PTCC e-mail newsletter to receive up-to-date information
about The Property Tax Independence Act and suggestions for what you can
do to help achieve its enactment. Click here.