# Printable School Worksheets - Excel by iwy12388

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```									                                           ACT 1 WORKSHEET FOR SCHOOL DISTRICTS WITH AN EARNED INCOME TAX
Minimum and Maximum Exclusion and Variable EIT Rate Calculator
(Multiple Counties - Using STEB Common Level Ratio)
INSTRUCTIONS: Multiple County Approach to Determining Median Assessed Value
Steps required to provide input value into the Act 1 Worksheet for School Districts with an Earned Income Tax (Multiple Counties – Using STEB Common
Level Ratio)

1. Convert all homestead properties from assessed value to market value using the appropriate STEB Common Level Ratio. (Divide the assessed value of each
homestead property by the common level ratio of the county in which the homestead property is located.)
2. Combine the individual county list of market value homestead properties into one single file.
3. Sort the combined file by value of property to determine a median market value. List could be sorted in ascending or descending order since the purpose of the sort is
to determine the median market value.

The resulting median market value can be plugged into the Act 1 Worksheet (Input Table, Line 2)

Input Table
Line   Data Item                                                                                 Value            Calculations
1    Current EIT Rate (district share of Act 511 levy)                                               0.50%
2    Median Market Value (all eligible properties)                                      \$        68,846.00
3    STEB Ratio - county 1 (Please see notes below)                                                  37.10
4    STEB Ratio - county 2                                                                          138.56
5    STEB Ratio - county 3                                                                            0.00
6    Total Homestead Eligible Properties - county 1                                                    7176
7    Total Homestead Eligible Properties - county 2                                                     350
8    Total Homestead Eligible Properties - county 3                                                        0
9    Total Farmstead Eligible Properties - county 1                                                       26
10    Total Farmstead Eligible Properties - county 2                                                        0
11    Total Farmstead Eligible Properties - county 3                                                        0
12    Estimated State Gaming Money (See PDE Table by SD)                                 \$               -
13    Estimated Sterling Act Credit Dollars                                              \$               -
14    Current Real Estate Millage Rate (mills) - county 1                                             46.48
15    Current Real Estate Millage Rate (mills) - county 2                                              12.43
16    Current Real Estate Millage Rate (mills) - county 3                                               0.00
17    Taxable Compensation + Net Profit (Earned Income Tax Base)                         \$      298,792,140
18    Taxable Personal Income Base                                                       \$      332,374,838
19    Desired EIT Rate Increase (Please see note referencing Table 7)                                 1.00%

Table 1
1    Total Homestead Eligible Properties - county 1                                                    7,176    Input Table Line 6
2    Total Homestead Eligible Properties - county 2                                                      350    Input Table Line 7
3    Total Homestead Eligible Properties - county 3                                                      -      Input Table Line 8
4    Total Farmstead Eligible Properties - county 1                                                        26   Input Table Line 9
5    Total Farmstead Eligible Properties - county 2                                                      -      Input Table Line 10
6    Total Farmstead Eligible Properties - county 3                                                      -      Input Table Line 11
7    Total Estimated Properties                                                                        7,552    Add Table 1 Line 1 through Table 1 Line 6

Table 2A - County 1
Median Assessed Value - Maximum and Minimum Exclusion
1    Median Market Value (all eligible properties)                                      \$            68,846     Input Table Line 2
2    STEB - County 1(converted)                                                                         0.37    Input Table Line 3 / 100
3    Median Assessed Value - County 1                                                   \$            25,542     = Table 2A Line 1 * Table 2A Line 2
4    Maximum Exclusion                                                                                  50%     Constitutionally Established Limit
5    Maximum Allowable Assessed Value Exclusion - County 1                              \$            12,771     = Table 2A Line 3 * Table 2A Line 4

6    Median Assessed Value - County 1                                                   \$            25,542 =Table 2A Line 1 * Table 2A Line 2
7    Minimum Front-End Referendum Exclusion                                                             25% One-Half of the Maximum Exclusion
8    Minimum Allowable Assessed Value Exclusion - County 1                              \$             6,385 = Table 2A line 6 * Table 2A line 7

Table 2B - County 2
Median Assessed Value - Maximum and Minimum Exclusion
1    Median Market Value (all eligible properties)                                      \$            68,846     Input Table Line 2
2    STEB - County 2(converted)                                                                         1.39    Input Table Line 4 / 100
3    Median Assessed Value - County 2                                                   \$            95,393     = Table 2B Line 1 * Table 2B Line 2
4    Maximum Exclusion                                                                                  50%     Constitutionally Established Limit
5    Maximum Allowable Assessed Value Exclusion - County 2                              \$            47,697     = Table 2B line 3 * Table 2B line 4

6    Median Assessed Value - County 2                                                   \$            95,393 = Table 2B Line 1 * Table 2B Line 2
7    Minimum Front-End Referendum Exclusion                                                             25% One-Half of the Maximum Exclusion
8    Minimum Allowable Assessed Value Exclusion - County 2                              \$            23,848 = Table 2B line 6 * Table 2B line 7

Table 2C - County 3

Revised 2-08-2007                                 The PA Association of School Business Officials                                          Page 1 of 3
ACT 1 WORKSHEET FOR SCHOOL DISTRICTS WITH AN EARNED INCOME TAX
Minimum and Maximum Exclusion and Variable EIT Rate Calculator
(Multiple Counties - Using STEB Common Level Ratio)
Median Assessed Value - Maximum and Minimum Exclusion
1   Median Market Value (all eligible properties)                                 \$            68,846    Input Table Line 2
2   STEB - County 3(converted)                                                                    0.00   Input Table Line 5 / 100
3   Median Assessed Value - County 3                                              \$               -      = Table 2C Line 1 * Table 2C Line 2
4   Maximum Exclusion                                                                             50%    Constitutionally Established Limit
5   Maximum Allowable Assessed Value Exclusion - County 3                         \$               -      = Table 2C Line 3 * Table 2C Line 4

6   Median Assessed Value - County 3                                              \$               -   =Table 2C Line 1 * Table 2C Line 2
7   Minimum Front-End Referendum Exclusion                                                        25% One-Half of the Maximum Exclusion
8   Minimum Allowable Assessed Value Exclusion - County 3                         \$               -   = Table 2C line 6 * Table 2C line 7

Table 3A - County 1
Minimum & Maximum Homestead Exclusion (Dollar Value)
1   Maximum Allowable Assessed Value Exclusion                                    \$            12,771 Table 2A Line 5
2   District Millage (e.g.; 10 mills = .010)                                                  0.04648 Input Table Line 14/1000
3   Maximum Dollar Value of Exclusion per Homestead - county 1                    \$            593.59 = Table 3A Line 1 * Table 3A Line 2

4   Minimum Allowable Assessed Value Exclusion For Ballot Purposes                \$             6,385 Table 2A Line 8
5   District Millage (e.g.; 10 mills = .010)                                                  0.04648 Input Table Line 14/1000
6   Minimum Dollar Value of Exclusion per Homestead - county 1                    \$            296.80 = Table 3A Line 4 * Table 3A Line 5

7   Number of Homestead/Farmstead Eligible Properties - county 1                                 7202 Input Table Line 6 + Input Table 9
8   Total Dollar Value Maximum Exclusion - county 1                               \$         4,275,057 = Table 3A Line 3 * Table 3A Line 7
9   Total Dollar Value Minimum Exclusion - county 1                               \$         2,137,528 = Table 3A Line 6 * Table 3A Line 7

Table 3B - County 2
Minimum & Maximum Homestead Exclusion (Dollar Value)
1   Maximum Allowable Assessed Value Exclusion                                    \$            47,697 Table 2B Line 5
2   District Millage (e.g.; 10 mills = .010)                                                  0.01243 Input Table Line 15/1000
3   Maximum Dollar Value of Exclusion per Homestead - county 2                    \$            592.87 = Table 3B Line 1 * Table 3B Line 2

4   Minimum Allowable Assessed Value Exclusion For Ballot Purposes                \$            23,848 Table 2B Line 8
5   District Millage (e.g.; 10 mills = .010)                                                  0.01243 Input Table Line 15/1000
6   Minimum Dollar Value of Exclusion per Homestead - county 2                    \$            296.43 = Table 3B Line 4 * Table 3B Line 5

7   Number of Homestead/Farmstead Eligible Properties - county 2                                   350 Input Table Line 7 + Input Table 10
8   Total Dollar Value Maximum Exclusion - county 2                               \$           207,504 = Table 3B Line 3 * Table 3B Line 7
9   Total Dollar Value Minimum Exclusion - county 2                               \$           103,752 = Table 3B Line 6 * Table 3B Line 7

Table 3C - County 3
Minimum & Maximum Homestead Exclusion (Dollar Value)
1   Maximum Allowable Assessed Value Exclusion                                    \$                -     Table 2C Line 5
2   District Millage (e.g.; 10 mills = .010)                                                       -     Input Table Line 16/1000
3   Maximum Dollar Value of Exclusion per Homestead - county 3                    \$                -     = Table 3C Line 1 * Table 3C Line 2

4   Minimum Allowable Assessed Value Exclusion For Ballot Purposes                \$                -     Table 2C Line 8
5   District Millage (e.g.; 10 mills = .010)                                                       -     Input Table Line 16/1000
6   Minimum Dollar Value of Exclusion per Homestead - county 3                    \$                -     = Table 3C Line 4 * Table 3C Line 5

7   Number of Homestead/Farmstead Eligible Properties - county 3                                       0 Input Table Line 8 + Input Table 11
8   Total Dollar Value Maximum Exclusion - county 3                               \$                -     = Table 3C Line 3 * Table 3C Line 7
9   Total Dollar Value Minimum Exclusion - county 3                               \$                -     = Table 3C Line 6 * Table 3C Line 7

Table 3D - All Counties
Minimum & Maximum Homestead Exclusion (Dollar Value)
1   Total Dollar Value Maximum Exclusion - all counties                           \$         4,482,560 Table 3A Line 8 + Table 3B line 8 + Table 3C Line 8
2   Total Dollar Value Minimum Exclusion - all counties                           \$         2,241,280 Table 3A Line 9 + Table 3B line 9 + Table 3C Line 9

Table 4
EIT Rate for Maximum Exclusion
1   Total Projected Gaming and Sterling Act Credit Dollars                        \$                 -    =Input Table Line 13 + Input Table Line 14
2   Total Estimated Value for Maximum Exclusion                                   \$         4,482,560    Table 3D Line 1
3   Amount Needed to Fund Maximum Exclusion                                       \$         4,482,560    = Table 4 Line 2 - Table 4 Line 1
4   EIT Rate Increase Necessary to Fund Max. Exclusion                                          1.50%    = Table 4 Line 3 / Input Table Line 18
5   Total SD EIT Rate                                                                           2.00%    = Table 4 Line 4 + Input Table Line 1

Table 5
EIT Rate for Minimum Front-End Referendum Exclusion

Revised 2-08-2007                               The PA Association of School Business Officials                                       Page 2 of 3
ACT 1 WORKSHEET FOR SCHOOL DISTRICTS WITH AN EARNED INCOME TAX
Minimum and Maximum Exclusion and Variable EIT Rate Calculator
(Multiple Counties - Using STEB Common Level Ratio)
1    Total Projected Gaming and Sterling Act Credit Dollars                           \$                 -   =Input Table Line 13 + Input Table Line 14
2    Total Value Minimum Front End Referendum Exclusion                               \$         2,241,280   =Table 3D Line 2
3    Amount Needed to fund Minimum Exclusion for Ballot Purposes                      \$         2,241,280   = Table 5 Line 2 - Table 5 Line 1
4    EIT Rate Increase Necessary to Fund Minimum Exclusion                                          0.75%   = Table 5 Line 3 / Input Table Line 17
5    Total SD EIT Rate                                                                              1.25%   = Table 8 Line 5 + Input Table Line 2 + Table 1 Line 2

Table 6
Estimates of Conversion to PIT
1    Total Personal Income                                                            \$   332,374,838.00    Input Table Line 18
2    Compensation/Net Profit                                                          \$   298,792,140.00    Input Table Line 17
3    EIT Base as % of PIT Base                                                                    89.90%    = Table 6 Line 2 / Table 6 Line 1
4    Total SD PIT Rate Necessary to Fund Max. Exclusion                                            1.80%    = Table 6 Line 3 * Table 4 Line 5
5    Total SD PIT Rate Necessary to Fund Min. Exclusion                                            1.12%    = Table 6 Line 3 * Table 5 Line 5

Table 7
Exclusion Calculator at EIT Rate Increase from Input Table
1    Desired EIT Rate Increase                                                                     1.00%    Input Table Line 19
2    Taxable Compensation + Net Profit (Earned Income Tax Base)                       \$      298,792,140    Input Table Line 17
3    Additional Revenue Due to EIT Increase                                           \$        2,987,921    =Table 7 Line 1 * Table 7 Line 2
4    Total Projected Gaming and Sterling Act Credit Dollars                           \$              -      =Input Table Line 13 + Input Table Line 14
5    Total Additional Revenue                                                         \$        2,987,921    =Table 7 Line 3 + Table 7 Line 4
6    Eligible Properties for Exemption                                                              7552    Table 1 Line 7
7    Dollar Tax Bill Reduction Per Eligible Property                                  \$              396    =Table 7 Line 5 / Table 7 Line 6

8    District Millage County 1 (e.g.:10 mills = .0010)                                            0.04648 =Input Table Line 14 / 1000
9    Homestead/Farmstead Exclusion (Assessment Deduction) County 1                    \$             8,512 =Table 7 Line 7 / Table 7 Line 8

10   District Millage County 2 (e.g.:10 mills = .0010)                                            0.01243 =Input Table Line 15 / 1000
11   Homestead/Farmstead Exclusion (Assessment Deduction) County 2                    \$            31,830 =Table 7 Line 7 / Table 7 Line 10

12   District Millage County 3 (e.g.:10 mills = .0010)                                                 -    =Input Table Line 16 / 1000
13   Homestead/Farmstead Exclusion (Assessment Deduction) County 3                          #DIV/0!         =Table 7 Line 7 / Table 7 Line 12

Notes:
Municipal share of EIT .5% not included in the total rates shown
The STEB ratio referred to in Input Table Lines 3, 4, and 5 differs from the Common Level Ratio. It can be found on the STEB website, under
the Market Values left tab by inputting the primary county selecting 2005 and STEB market values

data to account for reassessment.

Table 7: The Dollar Tax Bill Reduction Per Eligible Property, from Table 7 line 7, must be between the minimum and maximum dollar value of
exclusion per homestead as calculated in Table 3.

For questions on how to locate or calculate a school district's STEB or Common Level Ratio, contact Susan Elder at 540-4448

Revised 2-08-2007                                 The PA Association of School Business Officials                                        Page 3 of 3

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