
Speaker B
9:30 - 10:02
"It's too soon to forecast out what the removal of the senior citizen exemption is doing to sales. However, I did do a slide for the first 2 months, January and February."
“It's too soon to forecast out what the removal of the senior citizen exemption is doing to sales. However, I did do a slide for the first 2 months, January and February.”
So property tax, we're at the cap of 10 mills for operations this year, and then, as you can see, the sales tax is flattening out. It's too soon to forecast out what the removal of the senior citizen exemption is doing to sales. However, I did do a slide for the first 2 months, January and February. I'm unable to do March right now because businesses have until the end of April to file for March, and a lot of them like to wait till the very last day, which is tomorrow. So I didn't include that for March.
Petersburg Borough reported Thursday that sales tax collections increased by $26,000 in January and $22,000 in February compared to the prior year, two months after removing the senior citizen sales tax exemption, though the full revenue impact remains unclear as some purchases may now use the general $1,200 cap exemption.

The Petersburg Borough Assembly reviewed a proposed fiscal year 2027 budget Thursday that would add an area-wide operations mill rate, raising property taxes for all borough property owners to help cover a 5% increase in expenses.
