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Find Out How YOU Can Save Money
By Lowering Your Real Estate Tax Assessment!
The Real
Estate Tax Appeal Process doesn't have to be complicated
or difficult. Below we will try to inform and help you
through this process to appeal your tax assessment for
Allegheny County.
Please read the TIP at bottom.
Additional
information is available under Assessment
Info.
"The best way to win an assessment appeal hearing is with a certified appraisal. "
-- John Weinstein, Allegheny County Treasurer
- Source: KDKA Apr.26, 2002 6:06 pm
What is
Real Estate Tax?
Real Estate tax is a tax that is levied on every
parcel of land and piece of property (Real Estate)
in the state of Pennsylvania. There are 3 separate
taxes. Each tax is assessed a millage rate which is
used to calculate each property's tax liability. The
3 separate taxes consist of Local Municipality,
Local School and Local County taxes of which the
property is located within. In Allegheny County,
these assessment values were derived
through various methods. After all data and
information has been collected, verified and
reviewed, the County then creates their
determination of your property's value.
How Would This Affect
Me?
It is through their (County authority) determination of the value of
your property that your tax liability either
increases, decrease's or remains the same for the
following year. It is the home owners responsibility
to appeal their tax assessment if they feel that the
Fair
Market Value for their property is less than the
local County authority says it is worth.
How
Do I Calculate My Property Tax?
For instance, if your home has a new assessed value of $100,000 and your municipality has set a new millage rate of 5 mills, your property tax bill would be $500. Here's how you would calculate your tax bill:
(1) First, convert the millage rate to its decimal equivalent to make the multiplication easier. [ 5 mills X .001 = .005 ]
(2) Then, multiply your new assessed value ($100,000) by the decimal equivalent of the millage rate (.005) to determine your tax bill. [$100,000 X .005 = $500]
How
Do I Find Out What My Assessment Is?
Your yearly tax bill should have your total tax assessment located on
it. Also you can find information on your property
within the Allegheny County (regionally the only
County presently available) website. Allegheny
County Website.
How Can I
Appeal My Tax Assessment?
This is where you need to do your homework. First thing is to know the
filling deadline to appeal your assessment.
Historically this is April 30 of any given year
(this can change). You
then need to decide if you want to appeal your
assessment. If you do, you need to fill out an assessment
appeal form and send it in to the County
authority prior to their deadline. Also, Allegheny
County advises that any homeowner wanting to appeal
their property assessment should hire a Certified
appraiser to perform an appraisal on their
property.
What if I'm Not Sure
I Should Appeal?
We here at Bostedo Appraisal Services can help You
determine the right course of action to be taken. With information You supply us,
we can consult You over the phone as to whether or not it would be advisable to
have a full appraisal done on Your property. Our initial consultation is free and
with no obligation to help You determine the right path.
What Next?
To order an appraisal or to find out if You should appeal your
tax assessment (order
appraisal), please fill out as much
information as possible on our order page and click the "SUBMIT ORDER"
button at the bottom of the form. We will be in contact with You shortly to
confirm the order and to get any additional information that may be needed.
The only fees required would be for a full appraisal of Your property if
after consultation it were deemed warranted. If after consultation You feel You
want to proceed with the process of appealing your tax assessment we offer Quick Turnaround and Quality Services
that any client would appreciate.
TIP:
If and when you decide to have an appraisal
performed on your property to appeal your tax
assessment, make sure you give yourself and the
appraiser enough time to make an appointment with
you and also prepare the appraisal report. With the
30-40 year low in interest rates coupled with the
large amount of Allegheny County assessment appeals,
you don't want to find that you can't find an
appraiser. Once you receive the notice from the
County the hearing is already scheduled.
Historically this is only approximately a 1-2 week
advanced notice.
Hire an appraiser prior to being notified
of a hearing date to ensure your appeal will
go smoothly and you will not run into a worst case
scenario, your appeal being dismissed due to the
lack of information needed to fight your assessment!
FYI
(LATEST UPDATE):
A (RETROSPECTIVE) appraisal may be
completed at any time. Due to the nature of the
report (1/1/2002 effective date), this type of
report can be performed at any time during the year.
It doesn't matter when the report is performed, the
effective date will always be the same (1/1/2002).
According to Allegheny County Office of Property
Assessment, all residential appeals will have a 14
day window and commercial appeals a 30 day window.
These dates are usually from when the notice is
mailed which lessens the time period for the
property owner. Generally, an appraiser may not have
enough time to complete a report within this time
frame due to previous commitments to other clients
(lenders) and possibly weekends.
This is why it is advisable, if you are going to
appeal your property assessment in the upcoming year
to have the appraisal completed well enough in
advance. This way you will have the documentation
available at your hearing. To reiterate above, due
to the appraisal being a (RETROSPECTIVE)
appraisal report, the report can be completed at any
time and the effective date of the report will not
change from 1/1/2002.
- Bostedo Appraisal Services
- Telephone/FAX: (412) 343-2034
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WARNING! |
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(ARM) Adjustable Rate
Mortgage Holders!
New credit reporting
criteria!
A new credit-scoring system that rates
borrowers based on the type of mortgage they have could
cause people with adjustable mortgages to pay higher
interest rates on everything from credit cards to car
loans.
Some financial experts, however, say this system bears a
close resemblance to so-called universal default, which
allows a credit card company to raise a customer's
interest rate if he makes a late payment with another
creditor.
"This is pretty much going to be all that credit card
companies, student loan companies, auto lenders and
other banks need to charge customers higher rates solely
based on the kind of mortgages they have," said Lynnette
Khalfani, a former reporter for t e Wall Street Journal
and CNBC, and author of "Zero Debt." "Folks who were
teased and seduced to sign up for ARMs just two years
ago are paying for that decision in ways they never
imagined," Mrs. Khalfani said. "You could never fathom
it would cause higher rates on credit cards and higher
payments too. That smacks of unfairness to the
consumer." Not everyone with ARMs is struggling to make
ends meet.
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