Challenging Assessed Tax Value

[Matthew Hicks]

Hi Everyone,

I've read on here before that many investors will challenge the assessed value of their investment properties at all times. I get the logic given how high taxes can be compared to the cost of challenging.

So here's my question. I bought a house that was condemned and fully rehabbed it and then rented it out. Its probably worth $220-$230k and I have $185k all in invested into it. The assessed value was just increased to $150k from $50k. Given that the assessment is still way under value, should I bother challenging the assessment?

Anyone with specific experience in this area in the Pittsburgh area specifically would be particularly useful.