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Earlier today I attended another one of Judge Wettick’s status conferences on the scheduled 2012 reassessment. Not much has changed since my last update, except some of the dates. If you haven’t received my July email on this matter, please just let me know and I will forward it to you right away.
It currently looks as though there will be two separate schedules for the reassessment. One schedule for the City of Pittsburgh/Mt. Oliver and a second schedule for all other municipalities.
For the City of Pittsburgh/Mt. Oliver, the schedule will be as follows:
12/13/11 Informal Values will be mailed to property owners
01/06/12 Informal Hearings will be scheduled
02/01/12 Informal Hearings will be completed
02/06/12 Final Values will be certified and mailed to property owners
For all other municipalities, the schedule will be as follows:
03/12/12 Informal Values will be mailed to property owners
04/17/12 Informal Hearings will be scheduled
04/28/12 Informal Hearings will be completed
05/14/12 Final Values will be certified and mailed to property owners
What does all of this mean for property owners? It means that the Assessments will be certified AFTER the taxing bodies would have normally mailed out their tax bills. Thus, 2012 property tax bills are going to be sent out late (i.e. sometime after 02/06/12 for the City of Pittsburgh/Mt. Oliver and sometime after 05/14/12 for all other taxing bodies). For you, this will probably mean some confusion and HOPEFULLY nothing else.
What does this mean for the taxing bodies? I know it is sometimes hard to feel empathy for a taxing body, but consider this… the City of Pittsburgh School District normally collects its tax revenue at the very beginning of the calendar year. Under the current 2012 schedule, the School District will not receive that income until several months later. In order to close the gap of expenses and late revenue, the School District will need to obtain a loan to keep it afloat. The School District’s financial officer testified today that such financing would cost the School District nearly $1,500,000. Several other taxing bodies testified to similar expenses that they would also incur.
In light of all this information, it seems clear that there are still plenty of issues to be resolved before the reassessment numbers are finally certified. As always, if you have any questions, please feel free to contact our office anytime. Otherwise, just sit tight and we will try to keep you informed as this process moves closer to completion.