The latest estimate on the effect of the new assessments on homeowners who pay property taxpayers in Pittsburgh and Mount Oliver puts it this way: 69,000 taxpayers will see their tax bills drop and 59,000 will see their bills increase.

This estimate was released today by RealSTATS, which challenged University of Pittsburgh economist Chrisotpher Briem who earlier this month the new assessments would reduce property taxes for two out of three homeowners.

In the release issued by Daniel Murrer, vice president of RealSTATs, states that about 54 percent of homeowners will receive a reduction.

RealSTATs estimates that annual taxes will increase by at least

$500 for at least 23,000 homeowners while nearly 23,000 homeowners will see their bills fall by at least $500.

The new assessments, which so far have been released only for the city and Mount Oliver, will be used in 2013. New assessments also will be issued for the rest of Allegheny County.

RealSTATs identified these neighborhoods as getting the most reduction in their taxes: Sheraden, Elliott, Banksville, Beechview, Brookilne, Mount Washington, Carrick, Brighton Heights, Marshall-Shadel, Crafton Heights and Westwood.

The areas in which taxes are going up are Lawrenceville, Stanton Heights, Morningside, South Side, Bloomfield, Highland Park and East Liberty.

Under state law, taxing bodies cannot receive a windfall when properties are reassesed. Thus, property tax rates will have to be reduced.

With the current version of the new assessments, RealSTATs estimated that the city will reduce its millage in 2013 to 7.2 mills, the school district to 9.1 mils and the county to 3.5 mills.

Currently, the city levies 10.8 mills, the school district 13.92 mills and the county 5.69 mills.

One mill equals $1 for each $1,000 of assessed property value.

Many property owners are appealing their assessments, so it is uncertain what the final total assessment figure will be.