04/09/2007 Council Packet - Laserfiche WebLink

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Anoka County City of LinoLakes 1 Aggregate Ratio: This is the total market value of all sale properties divided by the total sale prices. It, along with the mean ratio, gives an idea of our assessment level. Within the city, we constantly try to achieve an aggregate and mean ratio of 94% to 95% to give us a margin to account for a fluctuating market and still maintain ratios within state mandated guidelines. 1 Mean Ratio: The mean is the average ratio. We use this ratio not only to watch our assessment level, but also to analyze property values by development, type of dwelling and value range. These studies enable us to track market trends in neighborhoods, popular housing types and classes of property. Coefficient of Dispersion (COD): The COD measures the accuracy of the 1 assessment. It is possible to have a median ratio of 93% with 300 sales, two ratios at 93 %, 149 at 80% and 149 at 103 %. Although this is an excellent median ratio, there is obviously a great inequality in the assessment. The COD indicates the spread of the ratios from the mean or median ratio. The goal of a good assessment is a COD of 10 to 20. A COD under 10 is 1 considered excellent and anything over 20 will mean an assessment review by the Department of Revenue. Price Related Differential (PRD): This statistic measures the equality between the assessment of high and low valued property. A PRD over 100 indicates a regressive assessment, or the lower valued properties are assessed at a greater degree than the higher. A PRD of less than 100 indicates a progressive assessment or the opposite. A perfect PRD of 100 means that both higher and lower valued properties are assessed exactly equal. Current Sales Study Statistics The following statistics are based upon ratios calculated using 2006 pay 2007 market values and 2005 sales. These are the ratios that our office uses for citywide equalizations, checking assessment accuracy, and predicting trends in 1 the market. 1 2006 Anoka County Residential Sales Ratio 1 Statistics Median Ratio 94.54 1 Aggregate Ratio 94.33 Mean Ratio 95.23 COD on Median 6.34 PRD 101 1 1 15 1