What does the 2002 Base Year Mean for my Allegheny County Property Tax Appeal?
How the base year system can affect your property tax appeal
Everyone knows the property tax assessment system - notably in Allegheny County - is broken and unfair. Properties are often overvalued for a variety of reasons, meaning property owners are paying too much in property taxes. Here at Flaherty & Fardo LLC we believe in protecting you and your hard-earned money, which is why want you to be as informed as possible going into your property tax appeal.
What is the Base Year System?
The 2002 system that could hurt your property tax appeal
The ‘base year’ means that all properties should be assessed at what they were valued as of January 1, 2002. This can only be determined through either a sales comparison approach; a cost approach; and/or and income/expense approach.
This could change if there has been permits, appeals, corrections, or catastrophic loss. In short, similar homes should be assessed the same. However, everyone knows the assessment system is not perfect. Often, a recent home buyer is punished over those property owners who have not changed ownership for many years.
Even more complex, is what if the property is or has depreciated in value? If you bought your home in 2002, can you argue that the value has gone down? That’s exactly what the school districts do when somebody pays more than the assessment.
Your Options for Combatting the Base Year System
Filing a property tax appeal to get the assessment your deserve
The assessment system in Allegheny County is far from perfect, and in fact, it’s often grossly unfair. The answer is to abolish or significantly reduce overall property taxes; until then allow Flaherty & Fardo LLC to fight your property tax appeals for you. We recognize the importance of having a fair property tax assessment, and will work tirelessly to get the value you deserve.