The monthly fees are $507.00. This is a cooperative, so that fee may include taxes, exterior care, snow removal, and lawn care to name a few items. It is very important to review the cooperative's documents to find out exactly what that monthly fee covers. I recommend that your agent contact the listing agent to get a copy of those documents. If you don't have an agent representing you, I advise that you get one. The seller's are all represented by knowledgable and licensed agents who are obligated to try to get the highest price in the shortest amount of time for the seller, why should you not be represented? The actual compensation of your buyer's representation is usually paid for by the seller.
At this time, it is impossible to tell the total effects of the tax reassessment. In order to determine the actual tax, one must multiple the assessed value by the milage rate of the taxing bodies; the county, the municipality and the school district. While the county assessors office has begun to notify home owners as to their new assessed values, the taxing bodies will not figure their milage rates until they set their budgets for next year. This property is located in the city of Pittsburgh School District, so all three taxing bodies here, Allegheny County, the City of Pittsburgh and Pittsburgh Public Schools will set their milage by the end of the December. That being said, there are laws that forbid any taxing body to have a windfall of more than 5% of what they collected last year and even a smaller percentage for the school district. This may be misleading because one might think that their taxes then will not go up by more that 5%. But if you have an area of City of Pittsburgh where the values have decreased by 10%, another area could increase by 15% and the city would still be abiding by the 5% increase law. It is unfortunate the the county officials are dragging this out over a year, because it has served to create this problem. According to RealStats of the Southside, a real Estate data company, they project that approximately 69,000 homes in the City of Pittsburgh will see a decrese in taxes while approximately 59,000 will see an increase. If their projections are correct, it will not be as negative as most fear, but it is the fear of the unknown that has been created by the lack of all the details that has created such a problem. I suggest that you speak with you local representative about this additional problem that they have created by allowing so much time between the announcement of the reassessed value and the announcement of the new milage rates. You can not fiqure the taxes without knowing both.