Pittsburgh Legal Back Talk

Legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus.

1410 Posts and Counting

Common Level Ratio Rises in Allegheny County

Posted By Cliff Tuttle | June 30, 2016

No. 1,267

The Common Level Ratio, established by the State Board of Equalization, increased from 1.09 to 1.15, effective tomorrow, July 1, 2016.

This means that if a property is assessed at $100,000 and is transferred for lees-than-arms-length consideration, the realty transfer tax was formerly paid on $100,000 x 1.09 or $109,000.  Now it is $100,000 x 1.15 or $115,000.

The purpose of this procedure is to bring such transactions as close as possible to fair market value when computing transfer tax.

CLT

Welcome

CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

  • Recent Posts

  • Posts You Might Like

  • Subscribe to our feed