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Updated: 8:06 a.m. Wednesday, Feb. 28, 2007 | Posted: 8:44 p.m. Tuesday, Feb. 27, 2007
STATE COLLEGE —
One reason for decreased building space is more student housing being constructed, which has caused a reduction in the tax base.
State College leaders have been lobbying for property reassessment, but this most likely will not occur. Reassessment would mean increased tax bills for the residential sector and could cost millions of dollars.
Centre County went through property reassessments in the 1990s and the accuracy of property values ranked among the best in the state.
Centre County officials have proposed building up instead of out, which would lead to more high rises in State College.
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