All Forum Posts by: Jake K.

@David M.

Thank you. This helps a ton - now I know that there isn't a direct/linear relationship between assessed value and taxes.

Really appreciate it!

 I'm in Pittsburgh, PA. As far as I know, individual properties are essentially never re-assessed randomly in the county, to your point. I'm worried about a county-wide reassessment. I can't find much info online on whether this is a planned thing every so often or how it works though.

Thanks!

I'm currently looking at a triplex that is listed at $350k and will probably sell for around there based on comps. It's assessed for just $55k, meaning property taxes are very low of course. This is common amongst many properties around my area too. It seems like properties rarely get reassessed - looks like the last one in the county was in 2012.

The numbers on this property really make sense for me, but they would shift dramatically (obviously) if the property was reassessed closer to market value. A 6-7x increase in taxes is nothing to scoff at. 

Any advice on this situation? I'm worried that I will buy the property and taxes will shoot up soon after and make it unprofitable. Would an increase in rents be fairly common in the area, then, and be ok to push on tenants?

Any advice would be very much appreciated! Thank you!