Northeast

By Brendan Kelly, associate, Siegel Jennings Over the past decade, Mr. Rogers’ adopted hometown of Pittsburgh has been named the most livable city in the continental United States — a hipster haven, tech hub and other trendy titles. Affordable housing stock in a stable real estate market, access to the arts in an established cultural community and world-class healthcare and higher education place the Steel City at the forefront of medicine and robotics. This attention has drawn real estate investors to submarkets well beyond downtown Pittsburgh’s Golden Triangle. As competition increases, investors from outside the region should be aware of idiosyncrasies and pitfalls lurking in Pennsylvania tax law and the local market. Welcome, Stranger As in most states, assessors in Pennsylvania cannot independently change a property’s assessment upon its transfer. However, Pennsylvania lets local taxing districts appeal assessments and request value increases, which they frequently do following a sale. Locals often call this the “welcome, stranger” tax. “One of the most common reactions I hear from our out-of-state clients who are new to this market is disbelief that districts can appeal assessments,” says Sharon F. DiPaolo, Esq., managing partner of Siegel Jennings’ Pennsylvania property tax practice. “Of course, in most …