![]() For example, with a millage rate of 3.570 mills and a $100,000 assessed value of a home, the tax rate would be. The property tax formula is the mill rate (divided by 1,000) multiplied by the assessed value of the property. One mill is equal to one-tenth (1/10) of a penny or 1/1000 of a dollar. *Property taxes are expressed in terms of mills per dollar of assessed value. The Board of Supervisors approves the real estate millage rate for the Township as part of the annual budget approval process. Qualified properties will continue to be eligible for the Homestead program offered by the Exeter Township School District. There will be no municipal tax reduction for the Homestead qualified properties. All municipal taxes will now be based on the full assessed value of each property. Tax revenues provide funding for police protection, street repair and maintenance, recreation services, park maintenance, and capital improvement projects.Įffective for 2022, Exeter Township repealed the Homestead Exemption originally enacted in 2020. ![]()
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