We provide a detailed discussion on the electromagnetic modeling and classification of polarization converting bianisotropic metasurfaces. To do so, we first present a general approach to compute the scattering response of suchmetasurfaces, which relies on a generalized sheet transition conditions based susceptibility model. Then, we review how the fundamental properties of reciprocity, energy conservation, rotation invariance and matching may be expressed in terms of metasurface susceptibilities and scattering parameters, and show how these properties may affect and limit the polarization effects of metasurfaces. Finally, we connect together the metasurface susceptibility model to the structural symmetries of scattering particles and their associated polarization effects. This work thus provides a detailed understanding of the polarization conversion properties of metasurfaces and may prove to be of particular interest for their practical implementation.