Finance

Annual Budget

The annual budget is the financial road map for Hilltown Township. By documenting the allocation of funds, the budget reflects the policies and projects that are priorities to the Township for any given year. As per section 3201 of the Second Class Township Code, the Township's fiscal year begins on the first day in January and ends on December 31st of that calendar year. Generally, a proposed budget is approved by the Board of Supervisors in early December.

The primary source of revenue for the Township is the Earned Income Tax (0.5%). An additional source of revenue for the Township is Real Estate Taxes, which currently has a millage rate of 8.75 mills: 7.30 mills are dedicated to General Township functions, 1.0 mills is a dedicated Fire Tax, 0.20 mills is dedicated to Park and Recreation, and 0.25 mills is dedicated for the purchase of Road Equipment. Previously, the residents of Hilltown Township approved a 0.25% tax on earned income for the purpose of purchasing Open Space. This is a dedicated tax and used only for that purpose. The tax was suspended for 2016, and remains suspended to date. In addition to property taxes and earned income taxes, the township's other sources of revenue include permit fees, fines, intergovernmental transfers, cable franchise fees, royalties from the two quarries located within the Township and a Local Services Tax, which is paid by those persons working within the borders of Hilltown Township.

Earned income taxes (EIT) are collected for residents in Bucks County by Keystone Collections Group, and for residents in Montgomery County by Berkheimer.