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Real Estate
Reply to "Help me understand property taxes in Pennsylvania"
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[quote=Anonymous][quote=Anonymous]But to answer one of your questions, nobody here is concerned that assessments will become the same as sales price. That’s not how it is done. [/quote] Of course not, but there is a massive gulf between a home selling for $1M and a tax assessment value of $250k. Sure, the assessment value may not immediately go to $1M just because it sold for that, but there is massive amounts of room for taxes to go up if the govt decides one day to readjust. If taxes are $6k on $250k, they will be a loooooot more if the adjust goes to $600-700k even though the home sold for $1M. [/quote]
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