Tax Results will be Case by Case
For the first time since 2002, properties assessments have been performed in the city of Pittsburgh. Despite the fact that several surrounding counties have gone decades without a reassessment, Allegheny County was forced to review its properties and set a new tax rate. Initially, local politicians and citizen groups were angered at the potential raises in property taxes, but recent studies have shown a much more complex relationship between the new values and the new taxes people will be paying.
Since property owners, landlords, and realtors set rent prices based on the property taxes they pay, as these new taxes raise or decrease, this will likely be reflected in the rent paid by students on local housing. These new effects will be experienced on a case by case basis, with many residents seeing a tax decrease and, potentially, a decrease in rent.
To find out how your property will be affected, first look up both its current and newly assessed price, using the following website:
<http://www2.alleghenycounty.us/reval/Search.aspx>
At first, the new sticker price may shock you. But here's some simple math to calculate the new tax.
Value * tax rate = taxes
So,
current value * .02941 = current taxes
new value * .01980 = new taxes
Now simply compare and see which one of these values is higher! If the current tax is higher, excellent! You're taxes are going down. If not, there are till things you can do. Mayor Ravenstahl, city Controller Michael lamb, and several council members have put programs in place to help you. If you are concerned about any of this, or any other questions, just send us an email! We're happy to help.
2012 Governmental Relations Committee
sgb.grc@gmail.com
Further reading:
http://www.post-gazette.com/pg/12031/1207116-53-0.stm?cmpid=newspanel4
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