As you may be aware, Allegheny County is making a significant adjustment in how property assessed values are calculated in 2023. This change is available to commercial and residential properties. The new calculation of assessed values in 2023 will be based on a significantly lowered “common level ratio” (adjusted from the previously used ratio of 81.1% of market value down to a ratio of 63.6% in 2023). However, this lowered common level ratio will not be applied automatically. Property owners must file a tax assessment appeal in order to get the benefit of this change.
If you would like to explore whether you may be able to benefit from a tax assessment appeal for any of your properties, please contact Jason M. Yarbrough at [email protected], or any other Meyer, Unkovic & Scott attorney with whom you have worked.
All appeals must be filed by March 31, 2023.
For more information about 2023 tax assessment appeals, visit: https://www.muslaw.com/assessment/
The Meyer, Unkovic & Scott Real Estate Group attorneys have substantial experience representing commercial and residential property owners. They handle any type of real estate transaction from acquiring a site for development, evaluating potential environmental issues, negotiating leases with prospective tenants, filing tax assessment appeals, to closing a commercial loan or obtaining a zoning variance.