Yet another property tax assessment question (or two) (sales, house)

[tarheeleer]

I've read several of the property tax threads on here but still have a few questions.

First, millage rates for Allegheny and surrounding counties/school districts/municipalities that I'm looking at seem similar, but does Allegheny tax at the sales price (or 2002 assessed value) minus $15,000 homestead exception? And do other counties with cheaper taxes assess at say 75% of sales price or whatever their last assessment year value was? Just trying to figure out why Allegheny taxes are so much higher.

Second, does Allegheny readjust assessment as soon as a house sells? So, if a house was assessed in 2002 at $150,000 but it sells in 2010 for $200,000 will the taxes raise in 2011 to the $200,000 rate?

Thanks so much!

[groar]

i always forget who takes out the homestead exemption and who doesn't, but for the time being sales price, no matter how recent the sale is, doesn't have anything to do with the assessed value of the house for tax purposes. assessments are frozen at the 2002 assessment until they reassess the house (which is supposed to be happening soon).

[BrianTH]

groar is right, but the one caveat is that a recent sales could cause one of the taxing jurisdictions to appeal the 2002 assessment. The question would still be what the value was in 2002, but it was an imperfect process and they would be arguing it got the value wrong.

I get the sense less of that is going on now than happened in the few years after 2002, but I think people should be prepared just in case.