READING., Pa. â The Reading City Council on Monday adopted a 2021 budget of $92.7 million that includes a 2.49% tax increase.
Although the move will raise property taxes by 0.44 mills, the amount is about 75% lower than what was initially recommended by Mayor Eddie Moran when he first presented the budget on Oct. 1.
During the budget process, which involved weekly workshops, the council and the administration slashed the proposed tax increase two times.
The first cut was made possible by refinancing debt from 2014 and 2015 bond issues, and the second cut was made after the city realized a $3.57 million savings from a reduction in non-personnel expenses.