Upper Makefield Township supervisors approved the final budget for 2025 that maintains the current 6.45-mill tax rate. A mill is equal to $1 of each $1,000 of assessed property value, so a property assessed at $70,000 will pay $451 in township real estate taxes. The township’s portion is only one component of a property tax bill, along with school and county real estate taxes. Upper Makefield’s earned income tax is expected to generate approximately $4.75 million in revenue, and projections are that the 0.5% of real estate transfer taxes will generate about $700,000 next year.
Source: Bucks County Herald; 11/27/2024