The State Tax Equalization Board (STEB) has released its Common
Level Ratio (CLR) of assessed value to market value for each county
in Pennsylvania for calendar year 2016 (applicable to tax year
2018). The CLR is used to convert aggregate taxable assessed values
into equalized market values for use in a formula that determines
the allocation of state subsidies to school districts. The CLR can
also be used to convert fair market values into assessed values in
conjunction with property tax appeals, subject to a taxpayer's
Constitutional and common law right to application of a different
ratio reflecting a lower level of assessed value to fair market
value in the county or for similarly situated property. The 2016
CLRs can be viewed at http://www.pabulletin.com/secure/data/vol47/47-22/953.html.
Notice, Dept. of Rev., 2016 Common Level Ratios, Pa. Bull. Doc. No.
17-953, Pa. Bull., Vol. 47, No. 22, 07/03/2017.
