Pittsburgh School Board OKs 30 Percent Drop In Tax Rate

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

As required by state law because of an overall increase in property values, both Pittsburgh Public Schools and the city of Pittsburgh are on course to reduce property tax rates by about 30 percent for calendar 2013.

The school board Wednesday night unanimously approved reducing the rate from 13.92 mills to 9.65 mills.

Pittsburgh City Council Wednesday gave preliminary approval on a unanimous voice vote to Mayor Luke Ravenstahl‘s tax proposal that will drop the millage rate from 10.8 mills to 7.56 mills.  A final vote is set for Tuesday.

Whether the taxes of an individual property owner will go up depends on how the property fared in the countywide reassessment.  Overall, property values in the city went up 48 percent.  If the value of a particular property went up more than that, taxes will increase.  Taxes will decrease if the value went up less than that.

Read more: http://www.post-gazette.com/stories/news/education/pittsburgh-school-board-oks-30-drop-in-tax-rate-671734/#ixzz2Ix0Ud4So

Pittsburgh Urban Redevelopment Authority Approves Hazelwood Tax Increment Financing Plans

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

The Pittsburgh Urban Redevelopment Authority board got the ball rolling Thursday for the largest piece of tax increment financing in the city’s history — an $80 million to $90 million package that would fund roads, utilities, parks and other public improvements for a proposed $900 million office and residential development in Hazelwood.

While URA board members unanimously approved preliminary plans for the funding in Hazelwood, some members criticized city council for holding up a $50 million TIF for a proposed $400 million to $500 million Buncher Co. development in the Strip District and wondered whether the Hazelwood package would suffer a similar fate.

The TIF must be approved by the city, the Pittsburgh Public Schools and Allegheny County.

“This is the beginning of a very long process,” said URA board member Jim Ferlo, a Democratic state senator from Highland Park.  ”There are going to be a lot of hurdles, if not some significant roadblocks.”

Read more: http://www.post-gazette.com/stories/business/news/ura-approves-hazelwood-tif-plans-669989/#ixzz2Hgyhruih