The EIT for Franconia Township is 1.0% with an additional. The millage rate for Franconia Township is currently set at 2.25417. Each year the Board of Supervisors sets the annual millage rate for properties located within the Township that are not exempt. Other revenue sources are comprised of a Local Services Tax (LST), Real Estate Transfer Tax, permit fees, fines, intergovernmental transfers, and franchise fees. The primary source of revenue for the Township is through the imposition of an Earned Income Tax (EIT) and Real Estate Taxes. The budget is typically approved in the beginning of December each year. As permitted by Section 3201 of the Second Class Township Code, the Township's fiscal year begins on the first day of January and ends on the 31st day of December. Approximately 22% of the properties located in the Township fall under the tax-exempt status. The Township is 14-square miles with 4,100 households and 4,762 taxable properties. Franconia Township is a Second Class Township with a population of approximately 13,259 residents.
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