An Act amending Titles 16 (Counties) and 53 (Municipalities Generally) of the Pennsylvania Consolidated Statutes, in fiscal affairs, further providing for operating reserve fund; providing for regular cyclical revision of assessment and for State Tax Equalization Board; and making a repeal.

SB 567 requires counties (second through eighth class) to conduct regular, mandatory countywide property reassessments on a set schedule, addressing a Supreme Court finding that Pennsylvania's outdated "base year" assessment system violates constitutional uniformity requirements. It mandates counties to update property values at least every 10 years through parcel data reviews and notify the Department of Revenue within 30 days after certification. The bill establishes that compliant assessments are presumed uniform in court, limiting appeals unless specific conditions like property division or use changes occur. This directly affects counties managing budgets, school districts (which must follow tax increase limits after reassessment), and property owners facing updated tax valuations.