-- Each year, all property owners in Pennsylvania have the opportunity to appeal the tax assessments of their properties. Your tax bill is determined by the assessed value that the county has placed on your property. Automobile dealerships usually contain complex mixes of showrooms, parking areas, service buildings, and other dedicated use structures. Opinions on the valuation of such a mix will vary widely.
-- In order to determine whether the assessed value on your dealership’s real property is appropriate, you must first understand the nature of the assessed value and how it relates to fair market value. An assessed value is the value that the county placed on your property at some point in time, usually after a countywide reassessment. ?
-- The purpose of a countywide reassessment is to reassess all properties in the County at the current fair market values at that time. The county may reassess individual properties outside of a countywide reassessment only in certain limited circumstances.
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Administrative Law Updates, Commercial Real Estate Updates, Tax Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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