Land bank adds a dozen properties
At its board meeting this past week the Pittsburgh Land Bank considered a “request for transfer of properties” to add to its inventory which consisted of one parcel. All of the properties the board deliberated upon at the meeting are owned by the City of Pittsburgh. All are vacant land with the exception of two that have structures and one of those is condemned and one is in poor condition according to the land bank summary of the properties.
A cross-reference of the parcel identification numbers with the Allegheny County assessment database shows that the assessed value of the parcels ranges from $400 to $39,000; combined the assessed value is $159,400 for all of the parcels.
Since the city owns all of the parcels, the properties are not currently producing property tax revenue. At current millage rates for the three taxing bodies, $3,605 would be raised annually with $1,284 of that going to the city.
The purpose of the land bank is to get these properties onto the tax rolls; how long that will take is unknown. At least two of the parcels have been owned by the city for a long time since 1948 and 1959. It is a wonder why the city or one of its related authorities has not been successful in what is now the land bank’s goal. How hard an attempt was made by the city prior to having a land bank is unknown.