The State Tax Equalization Board (STEB) and the Tax Equalization Division (TED) calculate the Common Level Ratio (CLR) annually for each county. The Board reviews recent property sales to facilitate apples-to-apples comparisons of assessed values across the commonwealth.
Original STEB Authorization – 1947
The legislature created the State Tax Equalization Board under the act of June 27, 1947, commonly known as the State Tax Equalization Board Law. The legislature replaced and augmented this law with the act of April 18, 2013. The 2013 act amended the act of June 27, 1996, which established the Department of Community and Economic Development.
STEB Amendments – 2013
The Act of April 18, 2013, added Chapter 15–State Tax Equalization Board–to the Community and Economic Development and Enhancement Act. For convenience, I refer to this act as the STEB Amendments.