No tax increase in 2017 budget
Borough council on Tuesday approved a $3.7 million 2017 budget without raising property taxes.
The real estate tax rate in Olyphant has not increased in more than 30 years, and will remain 10.6 mills in 2017.
A mill is a $1 tax on every $1,000 of assessed property value. A property owner whose home is assessed at $10,000, the median residential assessed value in Olyphant, should continue to pay about $106 in real estate taxes.
The borough’s current tax rate ordinance sets forth 9.6 mills for general purposes and 1 mill for fire protection.