Homestead exemption?

So there is an idea being put out there to raise the homestead exemption for local property taxes in the city of Pittsburgh and school district.

Now who suggested that might be a good idea broadly?   I guess the only difference is I did not think of the idea of raising the exemption amount . . . → Read More: Homestead exemption?

I see patterns

The PBT has a list of the biggest residential real estate transactions in the region last year.  Might be interesting to compare the new and old assessment values for each to the actual sales values recorded last year.

104 Hickory Hill Rd., Fox Chapel Old assessment: $686K New assessment:  $957K 2011 sale:  $1.1 mil

. . . → Read More: I see patterns

The Great Allegheny County Assessment Paradox

Let’s call this the great Allegheny County assessment paradox.

Washington Plaza Downtown is being put up for sale with an asking price of $55 million.

Note that its current base year assessment: $23 million.

Its new 2012 assessment: $30 million.

I have no idea, but I bet they are appealing nonetheless. Sure, they are asking . . . → Read More: The Great Allegheny County Assessment Paradox

Henry George is Kaput

So if you read the latest on property assessments in the PG today : 10 percent appealing assessments, there was an interesting obituary for Henry George there between the lines.

There was this quote reported direct from Judge Wettick:

Separate land values were “really confusing people” and many appeared to “make no sense,” Judge . . . → Read More: Henry George is Kaput

Paging Henry George

One of those news items I should have noted already.  PBT points out that one of the city of Pittsburgh’s property tax abatement is drawing to a close.  The article is talking about the LERTA program which is a state statute that allows municipalities to exempt taxes on commercial real estate in a designated district . . . → Read More: Paging Henry George

Pittsburgh’s real estate moment?

In order to post something positive and to stick to the knitting, several positive economic notes out there. We’ll start with real estate.

I already mentioned the latest real estate data from realstats.  The PG headline was quite negative: Region home sales drop sharply.  Unless you are in the real estate biz itself, I . . . → Read More: Pittsburgh’s real estate moment?

Value Investing

I’ve been meaning to ask what is up with the property assessment appeal filed by Rivers Casino.  No need since there is an update: Rivers Casino trying to reduce tax burden

Remember, this is the case where a business invested reportedly $800 million in a business operation all at a single location.  Probably $400-500 . . . → Read More: Value Investing