Section 5341.13 - Assessment at actual value; determination of actual value(a) All property within the county now or hereafter made taxable by law, shall be valued by the assessors and assessed by the board at the actual value thereof. In arriving at actual value the county may utilize the current market value or it may adopt a base year market value.(b) The board shall assess real property at a value based upon an established predetermined ratio which may not exceed one hundred percent of actual value. Such ratio shall be established and determined by the governing body after proper notice has been given.(c) In arriving at actual value, the price at which any property may actually have been sold, either in the base year or in the current taxable year, shall be considered but shall not be controlling. In arriving at the actual value, all three methods: namely, cost (reproduction or replacement, as applicable, less depreciation and all forms of obsolescence), comparable sales and income approaches, must be considered in conjunction with one another.(d) The board shall apply the established predetermined ratio to the actual value of all real property to formulate the assessment roll.1939, June 27, P.L. 1199, § 13. Amended 1982, Dec. 13, P.L. 1182, No. 271, § 4, imd. effective.