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Old 06-01-2016, 05:05 PM
 
3 posts, read 1,494 times
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We recently bought an old house in Allegheny county and moved in there. And now we have received a letter from the County office asking us to appear for an assessment appeal hearing. We have bought the house for $90k more than the last assessed value. In the letter they didn't mention what the new assessed value is. I talked to an attorney and he is asking to pay him 50% of the tax savings if he is able to get the assessed value reduced from the purchase price. So my question is, will the new assessed value be always same as the purchase price? I called the county office but they say I'll know the new assessed value only on the day of hearing.

Thanks in advance.
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Old 06-01-2016, 05:18 PM
 
Location: suburbs
598 posts, read 698,376 times
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No it won't necessarily be the same as the purchase price, but it can be very close to it. Depends, among other things, on average assessed value of comparable properties in your neighborhood. Search this forum for reassessment topics, there is a lot of useful information there. As for the lawyer, you may be able to find a good one who would do it for a fixed rate instead of a percentage. Since he suggested a percentage for you, it tells me that your chances of getting a lower assessed value in court are pretty good.
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Old 06-01-2016, 05:20 PM
 
Location: Downtown Cranberry Twp.
34,380 posts, read 13,402,302 times
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He's not going to take the case if he's not going to get paid enough to make it worthwhile.
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Old 06-01-2016, 05:27 PM
 
Location: Mid-Atlantic
12,399 posts, read 16,334,267 times
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Don't pay anyone a dime until you see the assessed amount. If it's at or below the sales price, do nothing. If it is over the sales price show your sales agreement. My guess this is an informal appeal, you will have another chance if not happy with the results. Please report back the results. I can find you a much cheaper solution.
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Old 06-01-2016, 05:29 PM
 
5,895 posts, read 6,470,722 times
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Quote:
Originally Posted by rb2002 View Post
We recently bought an old house in Allegheny county and moved in there. And now we have received a letter from the County office asking us to appear for an assessment appeal hearing. We have bought the house for $90k more than the last assessed value. In the letter they didn't mention what the new assessed value is. I talked to an attorney and he is asking to pay him 50% of the tax savings if he is able to get the assessed value reduced from the purchase price. So my question is, will the new assessed value be always same as the purchase price? I called the county office but they say I'll know the new assessed value only on the day of hearing.

Thanks in advance.
It's pretty much a given now (and unfortunately something that a seller isn't going to mention - but if your realtor is doing their job & actually representing you rather than just looking for a commission they most certainly should have told you) that any properties bought over their assessed value will be challenged to their new purchase price.
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Old 06-01-2016, 05:36 PM
 
3 posts, read 1,494 times
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Thanks so much for your responses (I'm amazed and grateful).

Yes, I searched this forum a lot and got a lot of information. If I haven't seen this forum I wouldn't have gone to an attorney at all.

So, it looks like the new assessed amount could be less than the purchase price. Copanut, since I got a formal letter I assume it's a formal appeal. So, are you saying that I can go to the hearing myself, find out what the new assessed amount is, for what it's worth put forth my points on why the assessed value should not be increased (I can cite a few things such as pending repairs, old roof etc) and then after they make decision, appeal again?
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Old 06-01-2016, 10:31 PM
gg
 
Location: Pittsburgh
24,472 posts, read 23,250,711 times
Reputation: 16030
Quote:
Originally Posted by rb2002 View Post
We recently bought an old house in Allegheny county and moved in there. And now we have received a letter from the County office asking us to appear for an assessment appeal hearing. We have bought the house for $90k more than the last assessed value. In the letter they didn't mention what the new assessed value is. I talked to an attorney and he is asking to pay him 50% of the tax savings if he is able to get the assessed value reduced from the purchase price. So my question is, will the new assessed value be always same as the purchase price? I called the county office but they say I'll know the new assessed value only on the day of hearing.

Thanks in advance.
If there is an attorney that will take 50% of tax savings for one year, I would jump on that. I would also get some information to that attorney, like some compatible properties in your region. It isn't that easy to beat if they are going for what you paid. They consider that market value. You have to prove you overpaid for your home.
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Old 06-02-2016, 06:18 AM
 
Location: Mid-Atlantic
12,399 posts, read 16,334,267 times
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Quote:
Originally Posted by gg View Post
If there is an attorney that will take 50% of tax savings for one year, I would jump on that. I would also get some information to that attorney, like some compatible properties in your region. It isn't that easy to beat if they are going for what you paid. They consider that market value. You have to prove you overpaid for your home.
That would be the attorney's job, what the hell is he being paid to do?
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Old 06-02-2016, 08:05 AM
 
Location: Pittsburgh
1,399 posts, read 1,264,484 times
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the assessment hearing is pretty informal. its a preliminary meeting with an arbitrator. Both parties have a chance to support their case on why the property assessment should change or not change. The best pieces of evidence would be your sales contract/hud1/CD ( but not in your case) and other comparable sales that show you overpaid. An additional item you can present is photo evidence of disrepair or major issues that need to be addressed with the property. You CAN NOT use assessments on other similar properties as evidence to support your case. The arbitrator will not give you an answer, they just tell you their rough opinions and then submit a recommendation to the board. You will get your final answer in the mail a few weeks or months later. At this time, you can appeal if you are unhappy with the outcome. This would be the time to hire a lawyer to fight if you wish to.
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Old 06-02-2016, 08:29 AM
 
Location: Mid-Atlantic
12,399 posts, read 16,334,267 times
Reputation: 10473
and take THREE copies of your evidence. They will not make copies for you.
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