County calculations of total value increases (Pittsburgh, Wilkinsburg: sale, real estate, condos)

[BrianTH]

Courtesy of Chris Briem:

Nullspace: Grapeshot

My muni, Wilkinsburg, was reportedly up 25.6%, just a little more than Briem's estimate of 24.67%.

[BrianTH]

Incidentally, Swissvale +42.9% may surprise some people, but maybe not as much as Rankin +75.3% (bested only by Dravosburg at +85.9%).

[gg]

I have a feeling the area is going to raise the assessments and cut the millage. Then they will slowly increase millages with those new assessments in place because the increase in taxes will be at a higher rate. This is all just positioning for future tax increases and more tax. Nothing new. Since the start of taxes, they just keep going higher and higher. At some point we just work and give the government our checks and they give us a little bag of food to last a month. Just the sign of the times.

[BrianTH]

Of course this has been said a million times by now, but since this is a new thread, for the record:

Act 1 limits school district increases to a certain percentage of revenues, not to a certain millage increase.

Outside of assessment years, other taxing jurisdictions can do what they want, and are not compelled to use even millage amounts, and in fact there are many Allegheny County taxing jurisdictions using odd fractions of millages.

So, it makes absolutely no difference what the tax base is when it comes to the size of future tax increases.

[gg]

Originally Posted by BrianTH

Act 1 limits school district increases to a certain percentage of revenues, not to a certain millage increase.

Who cares? My school millage goes up every single year. It will just keep going until we are all paying $5k per 100K of value. Just the way it is here.

[stburr91]

Originally Posted by BrianTH

Incidentally, Swissvale +42.9% may surprise some people, but maybe not as much as Rankin +75.3% (bested only by Dravosburg at +85.9%).

With a few exceptions, I'm surprised by how high the numbers were in the eastern suburbs.

As for Swissvale, I think a good bit of that increase came from the Regent Square section. In the other sections, prices have been all over the place, but I've been surprised by some of the sale prices that I've been seeing recently. I've been pleased with the sale prices of the nicer homes in my neighborhood. In fact, it's convinced me that now is to buy here (at least in my neighborhood, near Swisshelm Park) so I'm buying the house next to me.

[BrianTH]

I wonder if the Busway is having an effect. In any event, that portion of Swissvale south of I-376 and west of the Busway does seem to be doing pretty well recently.

[stburr91]

Originally Posted by BrianTH

I wonder if the Busway is having an effect.

I would say it has had a positive effect. That area of Swissvale saw some decline, after the busway was built, the area has since stabilized. On the other side of the busway, there was Kopp Glass Gateway Redevelopment Project, that renovated a number of houses, converted an old church into condos, and built a beautiful new craftsman style house. There's still work to do in that area, but it's heading in the right direction.

Originally Posted by BrianTH

In any event, that portion of Swissvale south of I-376 and west of the Busway does seem to be doing pretty well recently.

Yep, we've been making progress over here. In the last year I've seen more contractors over here doing renovations, than in the previous 3-4 years.

Maybe I'll post a mini photo tour of my neighborhood.

[BrianTH]

I'll admit I shamelessly cheer on positive developments in a concentric circle around our house and up or down the Busway, so I am quite pleased to see that happening in Swissvale.

[BrianTH]

By the way, folding this discussion together with the Turtle Creek discussion, I could really see a further extension of the Busway to Monroeville (following the proposed alignment through Braddock, East Pittsburgh, and Turtle Creek) unlocking a lot more real estate value.