Lackawanna County initiates property reassessment to ensure tax equity

The Lackawanna County government meeting held on March 10, 2025, focused on the ongoing reassessment process of property values across the county. The meeting began with a discussion led by county officials about the importance of ensuring fairness and equity in property taxation. Officials emphasized that the reassessment aims to update assessment records to reflect any improvements made to properties that may not have been previously recorded.

Samantha, a key speaker at the meeting, outlined the phases of the reassessment process. The initial data collection phase commenced in May 2022 and is set to conclude in December 2024. This phase involved data collectors visiting each property to gather exterior measurements and document any improvements, including those on older structures that may have been overlooked in past assessments.

The current phase involves evaluation and review, which includes informal meetings with property owners. This phase is expected to continue through May 2025. Property owners have been encouraged to review the data mailers sent to them, which contain information about their properties. They are invited to confirm or correct any inaccuracies, allowing for adjustments to be made before the final values are established.

During the meeting, officials explained the methodology used for property valuation. They highlighted that various factors contribute to property values, including location, market trends, the age and condition of the property, and any improvements made. A comprehensive sales study covering a 30-month period from January 2022 to June 2024 was conducted to analyze property sales within the county.

The valuation process employs three approaches: the cost approach, the income approach, and the market approach. The cost approach estimates value based on the replacement cost of improvements and land value, while the income approach is typically used for commercial properties. The market approach compares sales of similar properties to determine value.

As part of the reassessment process, property owners will soon receive notices of their new tentative property values. Officials encourage property owners to review these values and take no further action if they find them reasonable. The meeting concluded with a reminder of the importance of this reassessment in maintaining equitable property taxation across Lackawanna County.