What is a Residential Assessment Ratio (RAR)?
• A RAR is a value equal to the Level of Assessment of residential property used to calculate the state equalization rate for that assessment roll. RAR’s are used by Assessors as a general measure of assessment equity and by taxpayers in board of assessment review grievances and/or small claims hearings. RPTL Article 7, Title 1 – A, Section 738 mandates the calculation of Residential Assessment Ratios annually. RARs are NOT issued for municipalities currently conducting revaluation projects or who have fewer than 5 residential usable sales that year. The RAR is certified by the State Board no later than sixty days prior to the last day provided by law for the filing of the tentative assessment roll. The certified RAR and the number of sales used in its calculation are sent to the Office of Court Administration and to the appropriate County Director, County Clerk and Assessor.
