Assessment Ratio

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Assessment Ratio

A ratio of a property's assessed valuation to its market value. An assessed valuation is the value of a property as determined by an appraisal conducted by a municipality. The market value is the price for which one can sell a property on the open market. For example, if the assessed valuation of a piece of real estate is $180,000 and its market value is $200,000, its assessment ratio is 0.90, or 90%. The assessment ratio is used to determine one's property tax liability.
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In other words, an assessment roll must be fair and equitable and as such requires all towns therein to closely follow the statutory ratios set forth by the county legislature or any other governing body in charge of setting assessment ratios.
Since sales and assessment ratios are computed off sales, TownAnalyst.
Turning to tax fairness, the estimates show that properties with higher assessment ratios are more likely to be delinquent.
where Delinquenti indicates whether the property owner is delinquent (yes = 1, no = 0), Pt is a vector of property characteristics (Homestead Exemption, Statutory Tax Rate, Taxable Value, Years Owned, Assessment Ratio (16), Detroit Owner (17), Size, and Delinquent on Water, and [X.
Our estimation results are consistent with the important impact of various policy factors on property tax delinquency, such as enforcement, homestead/non-homestead status, taxable value, statutory tax rate, the assessment ratio, and police response times.
The coefficient of dispersion is the standard statistical measure of "variation in assessment ratios.
Beginning in 1994, the criteria are tightened to 90 - 100 percent assessment ratios and 25 percent coefficients of dispersion.
Based on 1990-91 sales, the agricultural land assessment ratio was 67.
The application of different assessment ratios to different classes of property results in different effective tax rates, which express tax as a percentage of market value.
Here we focus on property tax policies that apply different (non-zero) assessment ratios or tax rates to real property with the primary objective of taxing different classes of real property at different effective rates.
Results From Means Tests Applied to Detect Significance of Discounts Based on Estimates of Value Obtained From Mean Assessment Ratios [*] Full Sample Broward County Auction price $59,653 $63,170 ($20,821) ($18,062) Predicted market value from mean assessment ratios by region $72,562 $78,046 ($23,562) ($22,582) Auction price discount relative to predicted market value from mean assessment ratios by region 17.
To address these concerns, we obtained predicted market value from assessed value for each property, i, by dividing that property's assessed value by the mean assessment ratio for recently sold properties from each geographic area of our sample.
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