On the heels of the recent "Sold Properties" re-assessment appeals being initiated by several local school districts, the local Penn State University Campus located in Schuylkill Haven PA recently hosted a forum were invited Legislators listened to and questioned several local Realtors & Appraisors attemps to plain language a legal nightmare. Based on the trouble the politicians had understanding the vocabulary and concepts of re-assessment Appeals based on Sold Price vs. Spot Assessment, I became convinced that our representatives were not up to snuff on the mechanics of the on-going School Districts attempts to raise financial dollars through what I copnsider, is an obvoiusly unethical if not illegal process.
While continued efforts to achieve the No-Child Left Behind goals of our governor are admirable, the open-handed "Welcome to Our County...Here's your New Tax Bill" mentality of the School Districts is rapidly shrinking County competivness in both economic and consumers levels.
Based on Sold Price re-assessment offers nothing in consideration as towards the quality of quantity of the home, put places the onus on the amount of money a ready, willing and buyers was prepared to pay for the home. Nor does it account for the fact of whether the property value was increased do to a lack of available product options.
Let's suppose you are an aspiring boro-employee or a teacher and will need to reside in the District in which you were are be newly employed. At the time when you needed to purchase a home there is only one available to fit your family needs. But there were 2 other buyers who also needed the property for similar reasons. A price war ensues...market value rises, but only temporarily. This is evident by the thousands of upside-down mortgage holders filling the news every day.
This temporary inflation of Market Values holds no fairness for the Buyer, when several existing properties of like kind and design are located only doors away, yet continue to pay the pre-determined taxes. Some increases initiated by the Districts have reached as high a 110%.
A complete overhaul of Property Real Estate Taxes is desperatly needed throughout Pennsylvania. The continued Appeal of Based on Sold Price Property Values is an unethical travisty and is quickly becoming an economic roadblock to the very growth and expansion it was meant to support.
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