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Old 02-06-2013, 07:56 PM
 
Location: Wilkinsburg
1,657 posts, read 2,690,070 times
Reputation: 994

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Quote:
Originally Posted by alleghenyangel View Post
Must be nice for those who had their assessments go down. I live in a crappy neighborhood and mine doubled, even though I paid less than what the house was previously assessed for in 2009.
Are you in Stow or McKee's Rocks? Overall, how were assessments in your school district and muni?
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Old 02-06-2013, 08:43 PM
 
Location: Kittanning
4,692 posts, read 9,035,351 times
Reputation: 3668
Quote:
Originally Posted by ML North View Post
Are you in Stow or McKee's Rocks? Overall, how were assessments in your school district and muni?
Stowe Township, and property assessments went up by an average of 12% here. That in spite of property values declining probably by about 50% in the past decade. I made that number up, but it's probably true. lol

It also kills me that assessments in Braddock went up by 34%.

http://www.county.allegheny.pa.us/avginc.aspx
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Old 02-06-2013, 09:00 PM
 
1,183 posts, read 2,145,678 times
Reputation: 1584
Rankin's went up 68%? That seems insane to me.
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Old 02-07-2013, 12:32 AM
 
6,601 posts, read 8,981,085 times
Reputation: 4699
Quote:
Originally Posted by alleghenyangel View Post
Must be nice for those who had their assessments go down. I live in a crappy neighborhood and mine doubled, even though I paid less than what the house was previously assessed for in 2009.
I know you've done some work though, and presumably had some building permits. Do you think the assessment is an accurate representation of what you could sell for?
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Old 02-07-2013, 03:30 AM
 
Location: Kittanning
4,692 posts, read 9,035,351 times
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Quote:
Originally Posted by ferrarisnowday View Post
I know you've done some work though, and presumably had some building permits. Do you think the assessment is an accurate representation of what you could sell for?
No. The assessed value is close to what I have put into it, but twice what I would be able to sell it for (I had it appraised). I have been living rent free for over 3 years, so I've more than broke even, but the house will never see a return on any investment, other than as a cheap place to live or a rental.
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Old 02-07-2013, 07:26 AM
gg
 
Location: Pittsburgh
26,137 posts, read 25,973,648 times
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Quote:
Originally Posted by alleghenyangel View Post
No. The assessed value is close to what I have put into it, but twice what I would be able to sell it for (I had it appraised). I have been living rent free for over 3 years, so I've more than broke even, but the house will never see a return on any investment, other than as a cheap place to live or a rental.
You had it appraised, so I assume you tried to fight the reassessment and didn't just sit back after you were notified, correct?
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Old 02-07-2013, 07:47 AM
 
Location: O'Hara Twp.
4,359 posts, read 7,529,977 times
Reputation: 1611
Quote:
Originally Posted by steindle View Post
Rankin's went up 68%? That seems insane to me.
In order to fully understand the increase in assessed value one has to first determine whether or no there was any significant development in a given area.

I think this was discussed some time ago and this is from memory so I could be wrong. Believe it or not the county has pumped tons of money into Rankin and Braddock. In other words the overall tax base has increased.
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Old 02-07-2013, 08:17 AM
 
Location: Mid-Atlantic
12,526 posts, read 17,544,696 times
Reputation: 10634
Quote:
Originally Posted by steindle View Post
Rankin's went up 68%? That seems insane to me.
So a piece of crap house goes from 10K to 17K in 10 years, it could happen.
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Old 02-07-2013, 12:14 PM
 
357 posts, read 888,782 times
Reputation: 109
Quote:
Originally Posted by Copanut View Post
So a piece of crap house goes from 10K to 17K in 10 years, it could happen.
... and when the numbers are that low, the homestead exemption will cover a good chunk of the taxes anyway.
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Old 02-07-2013, 08:22 PM
 
1,164 posts, read 2,059,157 times
Reputation: 819
Quote:
Originally Posted by ML North View Post
First, if properties could only be sold for their assessed values, which are based on sales of other properties (comps) and which in your system would be updated to help a property sell, then there would be no reason to reassess annually. Right?

Second, I don't think that having the county government set all prices via a somewhat controversial assessment process is fair, effective, or probably even legal. The term "housing cartel" comes to mind.
The State Constitution requires that the assessed value be the market value. The market value is the price at which the property is sold. Therefore the county's assessment should equal the sale price.

If your property is assessed at $100,000 and you sale it for $150,000, you have not been paying your constitutional share of property tax. So that extra $50,000 should be taken as a penalty by the county. The opposite should also hold true. If your property is assessed at $100,000, you put it on the market for 180 days, and the highest offer you get is $50,000, then you have been paying more than your constitutional share of property tax and the county should give you that $50,000 difference as a penalty for assessing your property too high.

The county wouldn't be 'setting' the price; you can appeal to have your assessment increased. But then your taxes would go up. It's kind of a catch-22 to make sure the assessments accurately reflect market value
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