Although not part of the Pittsburgh metro area Indiana County is adjacent to it and its decision to reassess all real property for the first time since the Packers beat the Raiders in Super Bowl II has not surprisingly led to sticker shock and confusion about what a boost in real estate value means for real estate taxes (see this article).
Data from the state’s Tax Equalization Division (formerly the State Tax Equalization Board) shows that for the County (not including portions of school districts that cross county lines) there is about $3.1 billion in market value that is assessed at $544 million, on average a 17% of assessed to market value.
A sample reassessment notice and estimated tax impact helps taxpayers to understand the change from the reassessment on their property. The property in this example (if we ignore the clean and green provisions) would see a significant jump in assessed value (six times the current 1968 base value) and thus a big increase in real estate taxes–not the six times of the property, but a near doubling which means the property might have well been underassessed and would be increasing relative to the change in the County.
