Credit: Friends of Tina Davis
Bristol Township is considering increasing its Earned Income Tax (EIT) from 0.5 percent to 1 percent for next year.
Officials say the township “remains financially strong, but its financial analysis projects rising costs will outpace revenue in the coming years.”
Bristol Twp would help address future budget shortfalls and protect essential services.
Many Bristol Township residents already pay 1 percent in EIT where they work. Currently, Bristol Township receives 0.5 percent, while the municipality where they work keeps the other 0.5 percent. The proposed increase to 1 percent would bring that money back to the Twp to support the services residents use at home, without increasing those residents’ total EIT.
Approximately 70 percent of working residents would pay no more in local income tax. This includes residents working in Philadelphia, although Philadelphia retains its wage tax and those payments would not return to Bristol Township.
For residents who would pay more, the Township is exploring property tax reductions and income-based EIT waivers to help lessen the impact.
Review the slides, FAQs, and financial report below to learn more about the proposal and how it could affect you
Bristol Twp – Updated Financial Projection and EIT Analysis FINAL