The Pennsylvania STEP COMMON LEVEL Ratio EFFECTIVE JULY 1, 2017 (33.1 KiB) is a document that outlines the Common Level Ratio (CLR) for real estate assessment in Pennsylvania. The CLR is a “statewide uniform ratio” that is used to calculate the “assessed value of real property for tax purposes.” Specifically, this document outlines the CLR for each county in Pennsylvania, effective July 1, 2017. The document is divided into two parts: the first identifies the county, its CLR, and the average ratio for the county; the second provides a detailed description of the calculation for each county’s CLR. Additionally, this document outlines the corresponding property tax relief that will be provided as a result of the new CLR. The Pennsylvania STEP COMMON LEVEL Ratio EFFECTIVE JULY 1, 2017 (33.1 KiB) is a valuable resource for those looking to understand the assessment of real estate in Pennsylvania and the corresponding tax relief.
Pennsylvania STEB COMMON LEVEL RATiO EFFECTIVE JULY 1 2017 (33.1 KiB)
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FAQ
A new report shows Monroe County school property tax collections are the highest in the state.
Age requirements A person aged 65 years or older, A person who lives in the same household with a spouse who is aged 65 years or older, or. A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.
Greene County had the lowest in the country at 0.04%, while Blair County's was third at 0.09%. Susquehanna County boasted a tax rate of just 0.13% in 2021, making it the fifth lowest.
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.
Honolulu had the lowest effective property tax rate in 2022. This feature is powered by text-to-speech technology. Want to see it on more articles?
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.
Chester County collects the highest property tax in Pennsylvania, levying an average of $4,192.00 (1.25% of median home value) yearly in property taxes, while Forest County has the lowest property tax in the state, collecting an average tax of $860.00 (1.08% of median home value) per year.