The good news for property is that the Common Level Ratio has been lowered again by the Commonwealth of Pennsylvania for 2024. The ratio is now 54.5 percent of property’s current market values for this year’s appeal period.

This ratio change can bring significant tax savings for property owners, which makes looking into filing a property assessment appeal a very good idea. It is very easy, can pay for itself in the first year, and at Steidl & Steinberg, we do the work for you.

Common Level Ratio

A formula called a common level ratio is used to calculate a commercial or residential property’s taxable value. It is a calculation used in appeals to account for the differences between assessed values and current sale prices since the last reassessment in Allegheny County in 2012.

Allegheny County property assessment special appeals filed in 2023 for 2022 and 2023 taxes were based on a common level ratio that was set at 63.53 percent of the property’s current market value. That’s a dramatic drop from the 81.1 percent CLR used previously. We had quite a few clients take advantage of the lowered ratio. What does that mean for you?

What does that mean for you? It means the possibility of significant tax savings. A house that has a fair market value of $100,000 would be taxed at a value of $81,100 using the 2021 ratio of 81.1 percent. With the new 2024 common level ratio set by the state at 54.5 percent, that house would be taxed at a maximum assessment value of $54,500. A huge tax savings for the home owner.

Lower Your Property Taxes Now!

Steidl & Steinberg will discuss the case with you and consult a licensed appraiser for a free evaluation of your property. We will file the assessment appeal and you will not need to participate in or attend any assessment hearing. We will present your evidence and represent your interests. Don’t let this opportunity pass by without looking into the appeal possibilities.

Property owners need to remember that property assessment appeals may be filed every year in every county in Pennsylvania.

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