The assessed property valuation has declined in the borough of Kane.
This is another economic blow to the community because taxes are based on assessed property valuation.
The Kane Borough Council is scheduled to meet Thursday at 4:30 p.m. at the borough building to adopt a tax rate for 2014.Â
The rate is expected to be 9.375 mills-- the same as this year. However, the same rate is not expected to generate as much tax revenue because of the decline in the assessed property valuation in Kane.
RIDGWAY â€“ The Elk County Board of Commissioners on Tuesday morning voted to adopt their proposed 2014 budget which includes a one-mill increase, the first hike since 2009.
"We haven't received any comment from any taxpayer," Elk County Commissioner June Sorg said regarding the required 20-day comment period as the budget was displayed at the commissioners' office. "The increase is one mill and that usually brings in about $500,000 to the county, and it will be a $50 increase for a $50,000 assessment (roughly the same as a house with a $100,000 market value)."