Easttown Township supervisors voted on Aug. 19 to enact an earned income tax (EIT) of 0.5%. The tax will be levied on earned income or net profits derived from individual residents of the township, and from nonresidents of the township from any business done in the township. The EIT will take effect in 2025. The 0.5% rate equals about $925 per year for a wage-earner making about $185,000, which is Easttown residents’ average annual wage, according to a revenue study commissioned jointly by Tredyffrin and Easttown last year. Read more on the August vote here. The township had previously considered an EIT last year, but supervisors voted it down, 3-2, at that time.
Source: Savvy Main Line; 8/21/2024