Tuesday, November 01, 2011

Look up "Zero Sum"

So the news today is the city is going to do what it can to facilitate assessment appeals (PG, Trib).  Now since the vast bulk of real estate taxes are collected by and for the city and city school district, it is not going to help the city's budget in the end.  It's not like a lower assessment is going to save much in terms of how much the county collects on aggregate from City of Pittsburgh residents.  Any appeal that brings a city of Pittsburgh assessed value down will only have to result in higher taxes for other city of Pittsburgh residents.  In fact, I thought the city and school district had generally been appealing assessments over the last year in cases where they thought values were too low. 

Oh wait...  Pittsburgh region unemployment data is out. Down 4/10ths of a point.. Who would've thunk that?  That, by the way, makes it 60 months or 5 full years since the national unemployment rate was last measured below the Pittsburgh region's.  September 2006 the national unemployment rate was 4.5% and the regional unemployment rate was 4.6%.


Anonymous BrianTH said...

It is not, of course, a zero-sum game for the politicians. As we have discussed before, the people who really hate their new assessments/tax bills are much more of a threat to the politicians than the people who actually come out ahead are a blessing, even if monetarily it is a wash.

Incidentally, the seasonally-adjusted numbers are interesting--month over month, employment is up a bit, labor force down a bit more, hence the big drop in unemployment rate.

But year over year, the labor force count is much higher than September 2010, but the year over year employment is much higher still, so it is big drop in unemployment rate year over year as well. That's an interesting story being told, if it is believable.

Tuesday, November 01, 2011 1:56:00 PM  
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