How close to actual market does the Assessors Market value have to be?
The State Board of Equalization requires our median sales ratio be between 90% and 105%. For example: A property sells for $100,000 that has an estimated market value of $90,000. This would be a 90% ratio of value to sales price. The median ratio is the middle ratio of the group of sales of a particular type in a taxing district. If the median ratio is outside the 90% to 105% range, the State Board will normally order aggregate value changes to bring values into the correct ratio for that taxing district.
