53 Pa. C.S. § 8842
(a) Predetermined ratio.--The county assessment office shall assess real property at a value based upon an established predetermined ratio which may not exceed 100% of actual value. The ratio shall be established and determined by the board of county commissioners by ordinance. In arriving at actual value, the county may utilize the current market value or it may adopt a base-year market value.
(b) Valuation.--
(1) Except as set forth in paragraph (2), the following apply:
(i) 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.
(ii) The selling price shall be subject to revision by increase or decrease to accomplish equalization with other similar property within the county.
(iii) In arriving at the actual value, the following methods must be considered in conjunction with one another:
(A) Cost approach, that is, reproduction or replacement, as applicable, less depreciation and all forms of obsolescence.
(B) Comparable sales approach.
(C) Income approach.
(2) The valuation of real property used for the purpose of wind energy generation for assessment purposes shall be developed by the county assessor utilizing the income capitalization approach to value. The valuation shall be determined by the capitalized value of the land lease agreements, supplemented by the sales comparison data approach as deemed necessary by the county assessor. The lessee, or lessor on behalf of the lessee, shall provide the nonproprietary lease and lease income information reasonably needed by the county assessor to determine value by September 1.
(c) Impact of restrictions and tax credits on valuation.--
(1) In arriving at the actual value of real property, the impact of applicable rent restrictions, affordability requirements or any other related restrictions prescribed by any Federal or State programs shall be considered.
(2) Federal or State income tax credits with respect to property shall not be considered real property or income attributable to real property.
53 Pa.C.S. § 8842