8 0 . 9 6 , ▁High ▁School ▁- ▁$ 8 , 6 1 7 . 7 7 . ▁ ▁New ▁Castle ▁Area ▁School ▁District ▁is ▁fund ed ▁by ▁a ▁combination ▁of : ▁a ▁local ▁earned ▁income ▁tax ▁and ▁net ▁prof its ▁tax ▁rate ▁ 0 . 5 %, ▁a ▁property ▁tax , ▁a ▁real ▁estate ▁transfer ▁tax ▁ 0 . 5 %, ▁couple d ▁with ▁substantial ▁fund ing ▁from ▁the ▁Commonwealth ▁of ▁Pennsylvania ▁and ▁the ▁federal ▁government . ▁ ▁Interest ▁ear nings ▁on ▁accounts ▁also ▁provide ▁n ont ax ▁income ▁to ▁the ▁district . ▁In ▁the ▁Commonwealth ▁of ▁Pennsylvania , ▁p ension ▁income ▁and ▁Social ▁Security ▁income ▁are ▁ex empt ed ▁from ▁state ▁personal ▁income ▁tax ▁and ▁local ▁earned ▁income ▁tax , ▁regardless ▁of ▁the ▁level ▁of ▁the ▁individual ' s ▁personal ▁wealth . ▁ ▁State ▁Basic ▁Education ▁Fund ing ▁For ▁the ▁ 2 0 1 2 - 1 3 ▁school ▁year , ▁New ▁Castle ▁Area ▁School ▁District ▁received ▁$ 2 1 , 8 4 9 , 3 8 2 . ▁The ▁Governor ' s ▁Executive ▁Bud get ▁for ▁ 2 0 1 2 - 2 0 1 3 ▁included ▁$ 9 . 3 4 ▁billion ▁for ▁kind erg arten ▁through ▁ 1 2 th ▁grade ▁public ▁education , ▁including ▁$ 5 . 4 ▁billion ▁in ▁basic ▁education ▁fund ing , ▁which ▁was ▁an ▁increase ▁of ▁$ 4 9 ▁million ▁over ▁the ▁ 2 0 1 1 - 1 2 ▁budget . ▁In ▁addition , ▁the ▁Commonwealth ▁provided ▁$ 1 0 0