Tax Assessment Appeals in Allegheny County
The Allegheny County Assessment Office gives each property an assessed value that is a “base year” valuation. The base year valuation date is January 1, 2012. This means that the assessed value is intended to be equal to what your property was worth on January 1, 2012. You can take help of our Tax assessment appeal attorney Pittsburgh.
Since property taxes generally range from 2.5-3.5 percent (25-35 mills) of the assessed value per year, you can save a lot of money by appealing your property taxes. One municipality in Allegheny County has a millage rate in excess of 5.0% (50 mills) of the assessed value per year.
There are a number of factors to consider when determining if you should appeal:
Recent Sale Price – Sometimes a purchase price is excellent evidence that the assessed value is incorrect. If your purchase price indicates the base year value is incorrect in your favor, you should appeal. In order to determine this, the applicable Common Level Ratio will have to be applied to the recent purchase price. The Common Level Ratio is a county-wide percentage that is supposed to indicate the average difference between an assessed value and the current market value of a property. The purchase must be an “arm’s length transaction,” meaning that it must be for actual value between a willing buyer and a willing seller. The County assessors tend to discount properties that were purchased from foreclosing banks or as short sales, operating under the assumption that these were not “arm’s length transactions.” Even so, it may be possible to obtain a reduction in these cases.
Current Property Condition – If the property has not been updated for some time, or is unlike other properties in the area, there is a good chance that it is over assessed. An examination of the property’s current condition and recent sales in the area must be undertaken for an accurate review. Perhaps there are issues with the home that you discovered since purchasing.
Appraised Value – While not required, an appraisal can be excellent proof of value for a tax assessment appeal hearing.
David M. Tkacik, Esq. is the managing attorney for Tkacik Law Office and is also a real estate broker. He is experienced with Allegheny County property assessment appeals, as well as appeals in surrounding counties. For a free evaluation of your property, call 412-414-9644 or email DTkacik@TkacikLawOffice.com