How is a sales ratio calculated?

A sales ratio is the result of dividing the assessor’s market value of a property by the cash equivalent sales price of that property.

For example, if a property sold for $100,000 cash and it is assessed at $97,000, the ratio of assessment to selling price is 0.970 or 97.0%.

Show All Answers

1. What is considered an accurate assessment?
2. What method is used to measure the assessor’s appraisal performance?
3. How is a sales ratio calculated?
4. Does one sale tell us something about the assessment level of properties?
5. Are individual sales ratios also used to reveal the degree of assessment uniformity?