Pittsburgh Mayor Luke Ravenstahl on Monday announced plans to reduce city property taxes by 30 percent in response to Allegheny County?s new property assessments.
Under the mayor?s proposal, the city?s millage rate would be reduced from 10.8 to 7.56 mils. As a result, a house valued at $100,000 would owe $756 in taxes as opposed to $1,080.
?This has been an extremely difficult and frustrating process for homeowners and small businesses, and we?ve done everything we can to help taxpayers make sense of this ridiculous mess,? Ravenstahl said in a statement.
Ravenstahl also proposed to increase the Homestead exemption by 50 percent, from $10,000 to $15,000, as well as boost the senior tax relief credit, from 30 percent to 40 percent, of property value.
?We must make sure we are doing everything we can to protect homeowners from being taxed out of their homes, especially our low-income seniors,? Ravenstahl said.
City Council has until Jan. 31 to approve the new millage rate.
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