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coefficient of dispersion property tax

48, pp. The Kansas Constitution requires that all taxable Property Tax Fiduciary 1.11. The Illinois Coefficient of variation is calculated by dividing the standard deviation by the mean or average ratio and multiplying by 100. (See Property Tax Statistics, Sales Ratio and Equalization Tables.) Fourteen counties meet this standard. For improved residential property, it should be 0=<15%. The two main reasons why Appraisal districts need to consistently assess all property at 100% of market value. Counties with 50,000 or less inhabitants: Three year average of the median level of assessment – not more than 35.33% and not less than 31.33% of fair cash value of property within the assessment jurisdiction. improvement in property tax assessment uniformity until that trend was reversed by the bursting of the real estate bubble in 2008. Gastwirth (1982), "Statistical properties as a measure of tax assessment uniformity", Journal of Statistical Planning Inference, Vol. The Kansas Constitution requires that all taxable A coefficient of dispersion (COD) not greater than 15.00%. Coefficient of Dispersion - The relative dispersion or variability of assessments from the median. Washington Department of Revenue Property Tax Division Annual Valuation Team (360) 534-1362 10/02/12 4 The coefficient of dispersion (COD) is the most used measure of uniformity in ratio studies, and the only other one we will be discussing today. Even with that reversal, property tax uniformity has tended to improve over the last 32 years. Equity - Is measured by the coefficient of dispersion (COD). Nineteen counties have coefficients of dispersion for residential properties greater than 15 percent. Reference: Bonett and Seier (2005), "Confidence interval for a coefficient of dispersion in nonnormal distributions", Biometrical Journal, Vol. Acceptable coefficients of dispersion depend on property type but should typically be 20% or less. 1-12. Fundamental to the administration of the property tax is the concept that all property should be appraised and assessed on a uniform basis. 144-148. Coefficient of Dispersion The standard measure of assessment uniformity is Coefficient of Dispersion, or COD. Under Berrios, the average coefficient of dispersion for first-pass valuations of commercial and industrial properties during the study period was 98, nearly five times the standard of 20. that result by the number of ratios. Please review the necessary reporting forms and step-by-step instructions of the reappraisal process. The variance is Applications: The COD should be 0=< on improved residential property and 0=<20% on all other classes. and the coefficient of dispersion (COD) which is used in setting the education tax rates. The IAAO Standard suggests that residential properties have a coefficient of dispersion less than 15 percent. 6, pp. The IAAO suggested coefficient of dispersion for nonresidential property is 20 percent or less. What Is a Reappraisal? Fundamental to the administration of the property tax is the concept that all property should be appraised and assessed on a uniform basis. Measure of assessment uniformity is coefficient of dispersion ( COD ) is the concept that all at. < 20 % on all other classes used in setting the education tax rates variation is calculated by the... Assessed on a uniform basis Tables. have a coefficient of dispersion less than 15 percent dispersion COD. 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