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.
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.
E(AR) = mean county assessment ratio calculated using transaction prices and assessed values for a control sample of single-family homes that sold within the month prior to the auction in the same county as property i.