The assessment ratio is the percentage of market value used to compute the assessment.
The Courts of Pennsylvania have held that with respect to real estate tax assessments, "Market Value" of real estate is the price which the Purchaser, willing, but not obligated to buy, would pay the Owner, willing, but not obligated to sell, taking into consideration the highest and best use of the property.
A term commonly used to express the property tax derived from the word "mill", expressed in decimal one mill equals $.001.
In computing taxes, it is used in this formula
Assessed Value x Millage = Property Tax
Example: A property assessed or valued at $22,305 multiplied by the millage rate of .022 equals $490.71 in taxes.
The County Commissioners set it for the County, the Borough Council sets it for the Borough, the Township Supervisors set it for the Township, and the School Board sets it for the School Districts.
The County Assessment Office, in addition to maintaining assessment records and tax maps, is to see to it that all properties are assessed in a uniform and equitable manner.
Yes, if the assessment office changes your assessment, you are notified at your last known address.
You must file a written intention to appeal on forms available at the assessment office or on the County Website.
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