Jenkintown Borough’s assessed valuation continues to decline and is forcing Jenkintown School District officials to consider increasing local taxes to make up for the lost revenue.

From a District statement:

In 2014-15 the assessed value was $290,452,459; moving our next school year it has decreased to a low of $284,156,099. This equates to a loss of almost $111,000 in revenues from 2022-23 to 2023-24.

This is a serious concern as we navigate assessment appeals every school year.

The statement notes that 78 percent of the District’s revenues come from local taxes.

“The [2023-24] milage rate was approved at 47.665, an increase of 1.81068 mills. This equates to an increase of $278 per year for the average household,” the statement said.

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