Sales Ratio Study – No control
96% of all valuations unaffected because only 4% of parcels sell in a given year
Counties can report only the sales they desire
When a parcel sells during the tax year, by definition the tax value should be set to
the sale price (market value). Therefore only math errors / sloppiness prevent it from
always being 100%.
Not valued at market value
Use of median allows for huge difference between sales and tax value for parcels
within a neighborhood. One example shows a parcel whose tax value is $357,100
below the price it just sold for.
Not valuing parcels at sell price costs county $ 825,207,225 annually in lost valuation
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