For instance, Chester County, outside of Philadelphia, reappraised in 1998, and although the assessments have not changed and the CLR dropped from 100% to 80.5%. Therefore, a 1998 market value assessment of $1 million has increased 24.2% to $1.2 million for the 2003 assessment. By dividing the assessed value by the ratio, you can compare your assessment to market value.
In order to review your assessment properly and utilize the most recent ratios, visit the STEB web site at http://www.steb.state.pa.us/.
J. Kieran Jennings
Siegel Siegel Johnson & Jennings
[email protected]
American Property Tax Counsel (APTC)
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