Pittsburgh City Council Unanimously Approves Ravenstahl’s Property Tax Plan

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

Pittsburgh City Council this morning unanimously approved Mayor Luke Ravenstahl‘s property tax proposal, which increases the homestead exemption and the low-income senior discount in addition to dropping the millage rate to comply with Pennsylvania law.

Although the rate will drop 30 percent — from 10.8 to 7.56 mills — the vast majority of homeowners will not see a corresponding drop in their taxes because of a reassessment that dramatically increased official home values.

Read more: http://www.post-gazette.com/stories/local/neighborhoods-city/pittsburgh-city-council-unanimously-approves-ravenstahls-property-tax-plan-672491/#ixzz2JPup3Jxn

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