SB76 Tax Change Calculator

SB 76, the Property Tax Independence Act, is designed to eliminate school property taxes. It does not impact the county, township/borough property taxes assessed each spring. The elimination of school property taxes would occur over time since property taxes will still be assessed to cover existing debt obligations. The debt obligation, and thus the tax elimination, varies from district to district. The average homeowner in Greenwood School District will still pay about 21% of current school property taxes.

Changes under SB 76:

• Personal Income Tax (PIT) increases by 1.88%, from 3.07% to 4.95%

• Sales tax increases by 1%, from 6% to 7%

• Sales tax expands to cover more items

This calculator will help you to see how the changes made by SB 76 will affect your household's finances. Click on the question mark icons () for more information.

Property tax rate based on Greenwood School District.