Anyone familiar with the specifics of the Tax Abatement program (Manchester: house, purchase)

[UKyank]

I am seriously considering putting an offer in on a house in Manchester which falls in one of the city's 'Targeted Growth Zones'. I know there is a factsheet (http://www.ura.org/pittsburgh_reside...xAbatement.pdf) but i'm still not totally clear on it when a new assessment is most likely in the cards.

Just using hypotheticals:

Say the current assessed value on the home is $100,000
Purchase price is $200,000
You do $25,000 of improvements immediately after purchase.

Since the city seems to spot reassess any new purchases these days at the purchase price, what would the upshot be to be me given the above? The spot assessment thing is throwing my calculation on what the tax bill would be off.

Thanks if you have any insight.

[selltheburgh]

I know that for new construction or a "Substantial rehab" which I guess is up to the inspector to determine if it is one, you get 86k off of your assessed value. You have to apply within 6 months of taking out the building permit and the abatement is issued after the occupancy permit is issued.

I don't know how or if it works on a house that you improve, without completely rehabbing.

My advice is that when you take out a permit for whatever you are doing and they ask you the cost of the improvements, you tell them 2k instead of 25k just so it doesn't trigger another reassessment on top 100k to 200k reassessment post purchase.