From PENNLIVE.COM:
…If assessments aren’t done regularly, it is a disincentive for new construction. Why? Because newer properties end up sheltering a larger share of the tax burden, because older homes and businesses have not been revalued in years.
If Pennsylvania is going to continue to rely heavily on property taxes to fund a large chunk of education and other basic government services, then the state ought to place more emphasis on valuing properties correctly.
At a time when we want to be encouraging business, this is a plumb area for revision. At a minimum, the state should require counties to reassess every five years. Even better would be a standardized, statewide assessment process.
Click here to read the full article.
