72 Pa. Stat. § 5860.628

Current through Pa Acts 2024-35, 2024-56

Section 5860.628 - Assessment restrictions on property sold from repository

Notwithstanding any other provisions of the various assessment laws of this Commonwealth, the price for which property is sold under this subarticle of the act only, shall be deemed to be the fair market value of the property for tax assessment purposes. The assessment and the consideration upon which it was made shall not be changed unless any of the following occurs:

(1) It is changed as part of a general county reassessment.

(2) It is sold as an individual parcel or as part of a combined parcel.

(3) It is improved as provided for in the several assessment laws of this Commonwealth.

72 P.S. § 5860.628

1947, July 7, P.L. 1368, No. 542, §628, added 1986 , July 3, P.L. 351, No. 81, § 43, effective in 30 days.