The Pennsylvania STEP COMMON LEVEL Ratio EFFECTIVE JULY 1, 2016 (6.4 KiB) is a document published by the Pennsylvania Department of Education that provides the Common Level Ratio (CLR) for use in the calculation of the State Tax Equalization BoardsteelEB) property tax assessment appeals. The CLR is used to adjust assessed values of real property to reflect the differences in the property’s market value relative to the state’s median market value. There are two types of CLR, the statewide CLR and the county-specific CLR. The statewide CLR is a single uniform percentage that is applied to all real property in the state, while the county-specific CLR is a unique percentage that is applied to real property within each county. The CLR Effective JULY 1, 2016 (6.4 KiB) document contains the statewide CLR, county-specific Cars, and a CLR lookup table.
Pennsylvania STEB COMMON LEVEL RATiO EFFECTIVE JULY 1 2016 (6.4 KiB)
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FAQ
As a result, Allegheny County has already made a change for the 2023 tax year and significantly lowered the common level ratio from a prior ratio of 81.1% of market value in 2022, down to 63.6%. The exact common level ratio for tax year 2022 is not yet determined due to ongoing litigation over Judge Hertzberg's ruling.
STEB reviews the assessed values and sales data to determine how closely each county's values compare to market value as determined by STEB. They publish a Common Level Ratio (CLR) to indicate these results on a percentage basis. Philadelphia's most recent CLR was 92.61% (2021).
The 2023 CLR is 63.6% and is not in dispute at this time. With the significant reduction of the CLR and the opportunity to challenge two years at once, property owners may be entitled to unprecedented tax savings.
Pennsylvania's average effective property tax rate is 1.58%, compared to the national average of 1.08% in 2022. Homeowners paid a median of $3,442 in property taxes in 2022.
Further defined in Pennsylvania law, ?Common Level Ratio shall mean the ratio of assessed value to current market value used generally in the county as last determined by the State Tax Equalization Board (STEB).? For more information, see the PA Dept. of Community and Economic Development.
Some real estate transfers are exempt from realty transfer tax, including certain transfers among family members, to governmental units, between religious organizations, to shareholders or partners and to or from nonprofit industrial development agencies.