Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 5491.3. Assessment of land containing agricultural conservation easement

(a) Assessment.--The assessed value of land, but not the buildings thereon, which is subject to either a perpetual agricultural conservation easement or an agricultural conservation easement for less than perpetuity shall be determined by determining the restricted farmland market value of the land and by applying the current established predetermined ratio of the county to the restricted farmland market value unless the appropriate common level ratio determined by the State Tax Equalization Board varies by more than 15% from the established predetermined ratio, in which case the common level ratio shall be applied to the restricted farmland market value.

(b) Revaluation.--

(c) Countywide revision of assessments.--In the event that there is a countywide revision of assessments involving either the revaluing of properties or a mathematical change in the assessment base, the assessed value of land, but not the buildings thereon, which is subject to either a perpetual agricultural conservation easement or an agricultural conservation easement for less than perpetuity shall be determined in accordance with the provisions of subsection (a) pursuant to the procedure for determining assessed value of property in assessment appeals after a countywide revision of assessments.