Dormont Property Assessment Appeal (Keystone Oaks SD)

[WhoIsStanwix?]

Originally Posted by monczao

Thank you all for your insights. I was able to find several comparable homes in area that have sold for less than mine within the last 6 months.

WhoIsStanwix? - do you know if there is any way I can find out what is the value the SD appealed for?

I would follow Doowlle’s advice and call the school’s attorney, as that may be the only way to know for sure before going to court. I can’t really tell you exactly what they appealed for.

I did look up the common level ratio. It is 1.14 for assessment values accepted between 7/1/17 and 6/30/18, which means you divide the assessment price by 1.14. Assuming they appeal to your purchase price of $125k, Your assessed value would be about $109,650.

Source: http://www.revenue.pa.gov/FormsandPu...historical.pdf

Note all homes that sold recently and were reassessed would have the same common level ratio applied, so if most comps sold for less than yours, you still may be ok to appeal (though not sure if it would be worth it to you).

[Doowlle34]

I'd also add that this call is not any time to discuss anything with the attorney other than the amount of the new assessment -- e.g., no discussing the comps you've identified etc. etc. Just a short professional call to seek the information, no need to even say whether you are considering an appeal at this time.

[djfiler]

Take a look at square footage and other stats on the assessment website. Previously my 3rd floor was included in the square footage. However it is not heated and thus can't be considered livable space. That decreased my square footage by 1/3. Also, make sure the grade and condition are accurate. I successfully appealed to have mine reduced. These two changes resulted in different comparable and thus assessed value was reduced.

[stremba]

As others have said, definitely look at the assessment website to make sure everything is accurate. This happened to me during the original county-wide reassessment. My house is 1200 sq ft., but somehow the first two digits got transposed to make it 2100. When I looked at the comparables they were using for the assessment, they had 2000-2200 sq ft. houses as the comparables. Naturally, my assessment was WAY bigger than the price I had purchased the house for three years earlier. Fortunately for me, interest rates had dropped and I had just recently done a refi on my mortgage. As part of that, I had a private assessment performed. I appealed and took that assessment to the hearing. They gave me no difficulty in reducing my assessment to match the private value.


TLDR version: make sure things are accurate in the county's records, and if you truly believe you are over-assessed, perhaps having a private assessment done would help. That would certainly be much cheaper than hiring an attorney, and would be worth it if you truly are assessed (usually they cost a few hundred dollars).

[monczao]

All great information. I will let you know where I landed after the process is done. Thank you all/yinz again!

[Copanut]

Originally Posted by monczao

All great information. I will let you know where I landed after the process is done. Thank you all/yinz again!

Don't do anything until you see the new assessed value.