The coming ex post analysis

So I will say this…. there is surely going to be a paper written after the assessment is over with  an evaluation of whether the appeals process decreased the inequities in the assessment results… or if they made the inequities worse.

Why would I even suggest such a thing?  If you read the short . . . → Read More: The coming ex post analysis

There are bad investments and there are bad investments

One of the owners of the Rivers Casino says the business is a terrible investment. Just terrible.  In context you can’t ignore that the statement is made as part of litigation to lower the property’s assessed value for tax purposes.

So here is the deal.  Maybe he is right, maybe he isn’t.  The Rivers . . . → Read More: There are bad investments and there are bad investments

Tax Myths

Matt Yglesias:

A somewhat strange myth has taken hold in some precincts of American conservative opinion that some vast swathe of the population isn’t paying taxes. In fact everyone pays sales taxes and other state and local taxes, and as Adam Looney and Michael Greenstone write for the Hamilton Project almost all working-age people . . . → Read More: Tax Myths

Yinz and Yang of Casino Finance

Compare and contrast the two recent news items that don’t seem to intersect much if you just read them separately:

Casino wants lower assessment: Casino makes high-stakes appeal of assessment Yet it is making more money than ever before:  Business news briefs: Pa. casinos hit jackpot with revenue in March

Only in Pennsylvania is the . . . → Read More: Yinz and Yang of Casino Finance

Time to raise the homestead exemption?

Here is one of those issues I am perplexed has not even been raised yet.

So we all know by now there is a mass property reassessment going on in Allegheny County.  The news of late is that the reassessment itself is complete.  It is not really complete of course, but complete in that . . . → Read More: Time to raise the homestead exemption?

Forbes: Tax Shelter from Hell - U.S. Steel Tower in Pittsburgh

I was going to label this ‘Beyond grad school public finance’, but I thought that would make folks’ eyes glaze over.  So this is one of those convoluted policy things in Pennsylvania that make it too hard to figure out what side you are even on.  The angles and implications of this are . . . → Read More: Forbes: Tax Shelter from Hell – U.S. Steel Tower in Pittsburgh

Heennnrrryyyy GGeeoooorrrgggeeee!!!!!

OK..  I can’t resist this one.  It’s just floating up there.

EPR has this story on County Councilman Matt Drozd upset over the valuations of 4 vacant properties he owns in the city. Their inconsistent valuation is evidence that the whole assessment is kaput. He really seems to say that his new property valuations . . . → Read More: Heennnrrryyyy GGeeoooorrrgggeeee!!!!!

Steerage lost

I said recently that it would soon be All Assessment All the Time for much of the 2012.  It was no joke.  Think I could get away with writing on something else today?  Guess not. Some quick hits:

PG talks about possible contempt of court outcomes in the latest develoments.  Truth is I am . . . → Read More: Steerage lost

Ghosts of Henry George

So it’s not quite the same thing, but I note today’s news that Bill P. is promoting a new form of tax abatement on commerical and industrial development in the city of Pittsburgh if the news account has that right.

Is the goal to encourage more industry in Pittsburgh (the city proper) or to . . . → Read More: Ghosts of Henry George

Solving the problem of black money in real estate

Manmohan Singh as finance minister killed off smuggling, by eliminating customs duties. Black money in the real estate sector recently attracted his attention. He suggested lowering of stamp duties to check the flow of black money in this sector. But will this solve the problem of black money? And how will the State compensate . . . → Read More: Solving the Problem of Black Money in Real Estate