SCHOOL TAXES CUT DUE TO 'SLOTS' REVENUE

Revenues collected from slot machines at the state's seven casinos will be distributed to school districts, starting with the 2008-09 school year.

Taxpayers who applied for the tax cut, commonly referred to as the "homestead exemption," will see a credit on their real estate tax bill this July, reflecting the discount for owner-occupied homes. School districts will be reimbursed the amount from the gaming monies.

For Potter County school districts, Austin residents will see a reduction of $333; Coudersport, $179; Galeton, $219; Northern Potter, $218; and Oswayo Valley, $149.

Cameron County School District in Emporium will reportedly receive $432,200, or a $280 discount applied to each registered home.

Statewide average for savings through the program is $190, according to Pa. Dept. of Education spokesman Mike Race.

Race said seven slot machine casinos are operating in the state, with more to come.

"We have 14 licenses, so this fund should increase annually as more casinos open," Race pointed out.

Amount being distributed by the state this year is $613 million.

Property owners who would like to sign up for the homestead exemption on owner-occupied homes are advised to contact their county assessment offices. Future tax reductions will fluctuate, based on the amount of revenue the state derives from gaming operations.