Wednesday, January 30, 2008
Tax Assessments: Voodoo or Fact?
I get asked quite often about how taxes for a particular home are calculated. So much so that recently I arranged a meeting with one of the County's tax assessors to ask how it's done. This brief meeting left me with more questions than answers...
So the other day a made a copy of my home's tax assessment and set about trying to understand all of the calucaltions. (This information is open to the public at the tax assessor's office in the basement of the "old" courthouse in Hollidaysburg. In fact, tax assessments can be appealed and, in some cases, lowered to reduce your taxes if they are unfairly high. Tax appeal time is in September every year, so make sure you fill out the proper appeal form in August to schedule your meeting.) Anyway, back to the purpose of this blog...
Your home's assessed value is based on its square footage and its replacement value, anything considered an "upgrade" will raise your taxes. In fact, I think the main reason you have to apply for a building permit is so that the tax assessor knows when you've improved your house so he can raise your taxes. Upgrades would be brick or stone exterior, finished basement, cedar shake shingles, hwd or tile flooring, finished attic, radiant floor heating, enclosed and finished porch, and so on. If you think your taxes are too high because someone you know has lower taxes, compare the two homes closely, inside and out.
Age and condition are also major factors in determining taxes. Identical houses built many years apart will not have the same assessment value because the tax assessor devalues houses the older they get. This is why new construction always has higher taxes.
Location, to a small extent, affects taxes too. Each of the 22 municipalities in Blair County have different millages. I don't consider this very important because I've never heard of anyone wanting to live in "X" township because the taxes are lower, and because their isn't that big of a difference from the lowest to the highest taxing body anyway.
So I hope I answered some questions. You can always call me...
John
0 comments
So the other day a made a copy of my home's tax assessment and set about trying to understand all of the calucaltions. (This information is open to the public at the tax assessor's office in the basement of the "old" courthouse in Hollidaysburg. In fact, tax assessments can be appealed and, in some cases, lowered to reduce your taxes if they are unfairly high. Tax appeal time is in September every year, so make sure you fill out the proper appeal form in August to schedule your meeting.) Anyway, back to the purpose of this blog...
Your home's assessed value is based on its square footage and its replacement value, anything considered an "upgrade" will raise your taxes. In fact, I think the main reason you have to apply for a building permit is so that the tax assessor knows when you've improved your house so he can raise your taxes. Upgrades would be brick or stone exterior, finished basement, cedar shake shingles, hwd or tile flooring, finished attic, radiant floor heating, enclosed and finished porch, and so on. If you think your taxes are too high because someone you know has lower taxes, compare the two homes closely, inside and out.
Age and condition are also major factors in determining taxes. Identical houses built many years apart will not have the same assessment value because the tax assessor devalues houses the older they get. This is why new construction always has higher taxes.
Location, to a small extent, affects taxes too. Each of the 22 municipalities in Blair County have different millages. I don't consider this very important because I've never heard of anyone wanting to live in "X" township because the taxes are lower, and because their isn't that big of a difference from the lowest to the highest taxing body anyway.
So I hope I answered some questions. You can always call me...
John
0 comments:
Post a Comment