Borough property values twice that of original estimates

The Petersburg Borough assessor’s taxable value of property that was formerly outside city limits is nearly one and a half times the original estimate.

The assessor’s early estimation of taxable value of property outside service area 1 was $46,000,000—a 4-mill levy that would yield $184,000.

The actual taxable value amounts to $65,459,425—a 4-mill levy that would yield $261,837—but that could change, too.

Borough Finance Director Jody Tow said assessor Mike Renfro is spending most of this month in Petersburg to discuss individual appeals before they go before the borough assembly for an offici...