I was reading “Whitehall property value tumbles; owner requests rezoning” (Sept. 26 and TribLIVE.com) to my husband. In the article, the owners, Chuck and Patty Hosler, are having problems selling the property, and the Allegheny County reassessment value is not helping matters.
I found it outrageous that a property that was purchased in 2009 for $72,000 has recently been reassessed at $870,000, although, after appeals, it dropped several times to $243,000.
As I discussed this article with my husband and commented that I wonder what taxes on an $870,000 property are, my husband naively replied that someone would pay taxes on what he actually paid for the property.
One would think that would be the fairest, most accurate way to assess property valuation. Does Allegheny County use such information to adjust fair market value?
Imagine, if you will, being the Hoslers when they opened the letter detailing that $870,000 county reassessment.