Friday, June 22, 2012

I see patterns

The PBT has a list of the biggest residential real estate transactions in the region last year.  Might be interesting to compare the new and old assessment values for each to the actual sales values recorded last year. 

104 Hickory Hill Rd., Fox Chapel
Old assessment: $686K
New assessment:  $957K
2011 sale:  $1.1 mil

5302 Westminster (Shadyside)
Old Assessment: $535K
New Assessment: $694K
2011 sale:   $1.14million

4 Von Lent (Shadyside)
Old Assessment:  $810K
New Assessment $1.857 mil
2011 sale: $1.145 mil

256 Thorn (Sewickly)
Old Assessment: $573K
New Assessment: $1.114 mil
2011 sale:  $1.225

203 Fairview Road, Fox Chapel
Old Assessment:  $897K
New assessment: $1.093 mil
2011 Sale:  $1.242 mil

Old Indian Trail Fox Chapel
Old Assessment: $625K
New Assessment:  $1.115 million
2011 sale:  $1.319 mil

5016 Amberson Place Shadyside
Old Assessment:  $942K
New assessment:  $736K
2011 sale: $1.361 mil

5050 Amberson Place
Old assessment: $866K
New assessment: $1.117million
2011 Sale: $1.375mill

1089 Shady Ave.
Old Assessment: $875K
New assessment: $794K
2011 Sale:$1.750 million

711 Copper Creek Lane, Marshall
Old Assessment: $10K (Builder's Lot)
New Assessment:  $1.889 million
2011 Sale: $1.999 million


Anonymous DBR96A said...

What's the point you're trying to make? What makes this interesting? I think I might know why, but I wanted to verify it.

Saturday, June 23, 2012 7:55:00 AM  
Blogger Bram Reichbaum said...

Yeah, in re "I see patterns" ... good for you. :p

Saturday, June 23, 2012 8:39:00 PM  
Anonymous MH said...

For a second, it looked like the pattern was the Shadyside assessments were all too low and the Fox Chapel basically accurate, but then I noticed the one on Von Lent. Anyway, it isn't hugely clear to me.

Sunday, June 24, 2012 2:36:00 PM  
Anonymous Patrick said...

All but one are assessed at lower than the sale price. Systematic underassessment of high value properties all across the county.

Sunday, June 24, 2012 11:07:00 PM  
Blogger Conservative Mountaineer said...


How many people complain about the assessed value and get it lowered? Many.

Now, how many of those same people, if you said "I'll buy it for that", would say "No way! It's worth more!" Again, many.

RE assessments are the worst and most unfair method of collecting taxes. Entirely subjective. RE taxes should be abolished.

Monday, June 25, 2012 8:51:00 AM  
Anonymous MH said...

And replaced with what?

Monday, June 25, 2012 9:33:00 AM  
Anonymous Ms. Mon said...

Unfortunately, maybe these ones were assessed accordingly because they were in PBT. My patterns read differently, as I am still seeing properties assessed this year at $100,000 when more than TEN years ago the owners bought them for $350,000, and they're probably worth half a mil now. And some of these properties, I've seen. Why don't these people come forward and say, "Hey, we really owe a lot more taxes, and we can actually afford to pay them?" Well, because studies show, people with money also have a sense of entitlement and would be more than happy to let your grandmother lose her modest $75,000 home before they pay their fair share. I will email you such an example, which, if you search, you can find plenty. And a whole other pattern that shows that blindfolded monkeys are still throwing darts at a moving wheel to determine assessments.

Monday, June 25, 2012 8:39:00 PM  
Anonymous Ms. Mon said...

Also, I need to add that these people needn't be bothered with the whole process of property assessment appeal. They've got parties to throw. So how convenient for them.

Monday, June 25, 2012 8:42:00 PM  

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