High Quality
Open the downloaded document, and select print from the file menu (PDF reader required).
How
Much
Will
Pennsylvania’s
Public
Pensions
Cost
Your
Family
in
2012?
School
Property
Tax
Increase
for
PSERS State
Tax
Increase
for
PSERS
&
SERS
Pennsylvania’s
statewide
pension
plans
for
public
school
employees,
state
workers,
legislators,
judges
and
other
government
employees
—the
Public
School
Employee
Retirement
System
(PSERS) and
the
State
Employee
Retirement
System
(SERS)— will
require
significantly
higher
taxpayer
contributions
in
the
2012
‐
13
fiscal
year
and
beyond.
The
following
spreadsheets
provide
a
breakdown
of
these
increased
pension
costs,
based
on
SERS
and
PSERS
latest
projections
to
make
them
more
understandable
and
tangible
for
the
taxpayer.SERS
costs
are
paid
100%
by
state
taxpayers
through
taxes
such
as
the
personal
income,
sales,
and
corporate
income
taxes.
PSERScosts
are
split
with
about
54%
paid
by
state
taxpayers
and
46%
paid
by
school
district
taxpayers.
On
average,
school
district
property
taxes fall
69%
on
residential property
and
31% on
commercial
property
taxpayers.For
illustration
purposes,
the
local property
tax
increase
is
represented
in
a
per
‐
homeowner
basis
to
present
the
impact
of
these
costs
to
a
community.
The
state
costs
are
presented
on
a
per
‐
household
basis.
Although
the
increased
costs
will
be
paid
through
myriad
taxes
on
myriad
taxpaying
entities,
it
is
ultimately
individuals
and
families—not
businesses
or
corporations—that
shoulder
the
burden
of
all
taxes.Residential $381 PSERS $418Commercial $171 SERS $390
TOTAL
$552
TOTAL
$808
Prepared by the Commonwealth Foundation, www.CommonwealthFoundation.org (November 2009)
Total
Average
Homeowner/Household
Increase
Cumulative
property
and
state
taxes,
2009
‐
10
to
2012
‐
13
$1,360
Per
homeowner
average,
2009
‐
10
to
20012
‐
13 Per
household
average,
2009
‐
10
to
20012
‐
13
Add a Comment