east liberty station: realizing the potential - City of Pittsburgh

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ESTIMATED ASSESSED VALUE
Incremental Growth
Boundary 1 Base
Boundary 2 Base
Boundary 3 Base
Boundary 3 Base
(w/ boundary 1 removed)
Boundary 3 Base
(w/ boundary 2 removed)
The graphs on this page illustrate
the assessed value growth over
time along with projected real
property tax increments that would
be available for the elTRID value
capture. Approximately $125 million
of incremental assessed value
would be created by the
development program at the peak of
the third TRID Boundary. The newly
created value represents a 20%
increase over the base assessed
value of the largest district
boundary. Within the half-mile
study area, new incremental value
created in the TRID Boundary would
represent an approximately 33%
increase in total assessed value
after all value capture areas within
the district expire.
PROJECTED REAL PROPERTY TAX REVENUES
Projected Taxes
Base Taxes
Incremental Taxes
Annual incremental real property tax
revenue of $3.8 million would be
generated by this increase in
assessed value during the peak.
Approximate $62 million of
incremental revenues would be
generated by new projects within
the TRID Boundary over 30 years if
the value capture area is phased
over time. A portion of these new
revenues would be diverted to fund
specific project infrastructure or
district wide improvements as later
outlined in the elTRID
comprehensive value capture
strategy.