Despite the COVID-19 global pandemic, revenues from two tax sources were higher than expected last year in Rice Twp.
Township secretary/treasurer Jeffrey Beck told supervisors at their reorganization meeting that earned income tax and real estate transfer tax receipts were unexpectedly high in 2020.
Beck reported the real estate transfer tax was $18,798 over budget, while earned income tax receipts were $37,217 over budget. Those same categories were $9,570 and $32,470 respectively over anticipated budget receipts in 2019. Beck noted property tax revenue is volatile and difficult to predict.
As a result, Beck noted that the township recorded a surplus of about $9,000, compared to an expected $1,000 surplus.