The deadline to file a tax assessment appeal for all properties in Allegheny County is fast approaching. Assessment appeals for the 2018 tax year must be filed on or before April 2, 2018.
Property owners may be entitled to a lower assessed value for a number of reasons which may include, among other factors, changing physical or economic conditions of their properties, recent appraisals, differing market conditions, and the passage of time.
Allegheny County properties are valued based on the property’s fair market value as of January 1, 2012 (the “Base Year”). The State Tax Equalization Board publishes a common level ratio which is intended to provide a method of assessing property values in subsequent tax years in relation to the Base Year. Some property owners have discovered that while their properties were fairly assessed in 2012, they are now overassessed in 2018. Lower assessed values can result in significant tax savings for property owners not only in 2018, but for years to come.
For more information about tax assessment appeals, or any other Real Estate matter, please contact Jason Yarbrough or any of Meyer, Unkovic & Scott’s Real Estate & Lending Practice Group
attorneys with whom you may have worked.
This material is for informational purposes only. It is not and should not be solely relied on as legal advice in dealing with any specific situation.