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Resolution establishing policy of Allegheny County to use sales price data to establish assessments of residential property within the County.
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Whereas, the principal source of revenue for Allegheny County is derived from taxes levied upon real property;
Whereas, the amount of property tax that owners of real property must pay is determined by the assessment of the fair market value of that property;
Whereas, Allegheny County recognizes the fundamental importance of employing an assessment system that results in the highest possible degree of accuracy, uniformity, objectivity, and fairness;
Whereas, Allegheny County's historic emphasis on "comparables" and other factors other than sales price in determining assessments is overly subjective and has led to inconsistent, non-uniform and inaccurate assessments and, therefore, an unfair tax burden for many residents of Allegheny County;
Whereas, Allegheny County now possesses sales price information of real property in computerized form;
Whereas, computer programs have been and can be developed using sales price information to determine to a high degree of accuracy geographical trends and inflationary factors affecting the fair market value of real property;
Whereas, sales price is consistently the most reliable and accurate indicator of the fair market value of real property and is more accurate than other, more subjective, factors, including the selection and use of "comparable sales";
Whereas, an assessment system based upon objective factors would lead to fairer assessments; and
Whereas, an assessment system based upon objective factors would give the assessment system much greater credibility among taxpayers.
The Council of the County of Allegheny hereby enacts as follows:
Section 1. Statement of Policy. It shall be the policy of Allegheny County to use, whenever possible, the sales prices of real property, adjusted for inflation, as the principal factor for determining the fair m...
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