Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 5452.4. Powers and duties of board

(a) To make and supervise the making of all assessments and valuations of all subjects of taxation in the county as required by existing law.

(a.1) The board shall assess real property at a value based upon an established predetermined ratio which may not exceed one hundred percent (100%) of actual value.  Such ratio shall be established and determined by the board of property assessment, appeals and review after proper notice has been given.  In arriving at actual value the county may utilize the current market value or it may adopt a base year market value.

(a.2) 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.

(a.3) The board shall apply the established predetermined ratio to the actual value of all real property to formulate the assessment roll.

(b) To revise and equalize all such assessments and valuations.

(c) To hear all cases of appeals from assessments, and all complaints as to assessments, errors, exonerations and refunds.

(d) To pass upon and determine the amount of property of any organization or institution which is under the provisions of existing law entitled to exemption from taxation.

(e) To establish and maintain in its office records of cubical contents of buildings, surveys, maps, sales and assessments and with the exception of the cubical contents, records and sales records, to permit inspection thereof by the public at all times during office hours.

(f) To perform and exercise all the powers and duties heretofore imposed or conferred upon the board for the assessment and revision of taxes in counties of the second class under the provisions of any existing law not repealed hereby.

(g) To perform and exercise such other powers and duties as may be conferred or imposed upon it by the provisions of this act   1 or any other act of Assembly.