Pennsylvania SB567 amends fiscal affairs, including operating reserve fund appropriations, and establishes regular cyclical revisions of assessment.

Pennsylvania SB567 amends the operating reserve fund to restrict appropriations to emergencies involving health, safety, or welfare, and to fund countywide revisions of assessment. It establishes a regular cyclical revision of assessment schedule for counties, requiring them to conduct countywide revisions every five years. The bill creates the State Tax Equalization Board to determine market values of taxable real property, adjust assessments, and establish common level ratios. The board also advises the Department of Education on special aid to school districts.

Pennsylvania SB567 amends fiscal affairs, including operating reserve fund appropriations, and establishes regular cyclical revisions of assessment.

Pennsylvania SB567 amends the operating reserve fund to restrict appropriations to emergencies involving health, safety, or welfare, and to fund countywide revisions of assessment. It establishes a regular cyclical revision of assessment schedule for counties, requiring them to conduct countywide revisions every five years. The bill creates the State Tax Equalization Board to determine market values of taxable real property, adjust assessments, and establish common level ratios. The board also advises the Department of Education on special aid to school districts.