Pennsylvania Code
Title 61 - REVENUE
Part III - State Tax Equalization Board
Chapter 603 - MARKET VALUE PROCEDURES
AGGREGATE MARKET VALUE APPROACH
Section 603.1 - Definition and purpose of assessment-sales ratios
Universal Citation: 61 PA Code ยง 603.1
Current through Register Vol. 54, No. 44, November 2, 2024
The aggregate market value approach is commonly termed sales ratio studies. The purpose is to ascertain the average percentage ratios of masses of assessed valuations to masses of bona fide selling prices or properties transferred. These average assessment-sales ratios are then used to convert aggregate assessments into aggregate market values.
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