Opinion ID: 1494643
Heading Depth: 1
Heading Rank: 7

Heading: Future Options Too Speculative for Assessment Purposes

Text: In McKnight, the majority, speaking through Justice COHEN, holds that an option (for future purchase of the property) contained in a lease,  which option was not actually executed until the middle of the triennium  is a proper factor to be considered in determining the value of the property at the beginning of the triennial period. In my judgment, for assessment purposes, it is too speculative. In Hendel Appeal, 403 Pa. 635, 170 A. 2d 109, Justice COHEN, speaking for a unanimous Court, said (page 637): While a property owner under the Second Class County Code is entitled to have his property carried on the assessment rolls at a valuation which reflects its condition as of December 31 of the preceding year or January 1 of the current year, he cannot require that his future plans for the building, except to the extent that they are executed, be reflected in the assessment. Here, the subsequent completion of the intended demolition, even though partially commenced before January 1, and after January 1 expeditiously pursued, cannot affect the value of the building on January 1 . . . . For each and all of these reasons, I dissent from the Court's Opinion in this case and would affirm the Order of the lower Court.