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Reply to "Help me understand property taxes in Pennsylvania"
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[quote=Anonymous]PA property taxes are extremely complicated. The “assessed value” is actually a calculation of the fair market value against the “common level ratio” for the county. In other words, your assessed value may be exactly or even half of the FMV. It is intended to adjust for lags in changing FMVs. The so-called newcomer tax is real. You have to compare the last assessed value and when that was against your FMV x CLR. If there is a huge delta expect to get hit with a spot reassessment. But if it is way out of line to your neighbors you can always appeal and hope a sympathetic judge will rule it is in violation of the state constitution. I’ve heard people say the changing CLRs make this less likely now and that many reassessments are a wash. [/quote]
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