04/09/2007 Council Packet - Laserfiche WebLink

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Anoka County City of LinoLakes of comparability or extent of adjustment necessary for time differences; and (d) the absence of non - typical conditions affecting the sale price. MASS APPRAISING A method used in revaluation of a community for tax purposes. As the term implies, it is a method of appraising a large number of properties at one time by adopting standard techniques, and giving due consideration to the appraisal process so that uniformity or equality of values may be achieved between all properties. MEAN ASSESSMENT RATIO Total of ratios divided by number of properties. MEDIAN ASSESSMENT RATIO Middle assessment ratio or the average of the two middle terms when the ratios are lined up from low to high. METES AND BOUNDS A description of a parcel of land by reference to the courses (bearings, that is, the angles East or West of due North and due South) and distances (usually feet or chains) of each straight line which forms its boundary, with one of the corners tied to an established point; that is, the bearing and distance from an established point, such as a section corner or to the intersection of the center lines of two roads, etc. If one part of the boundary is on a curve, this part is described by showing the number of degrees of the central angle subtended by the curve (arc), the length of the radius and the length along the curve. MODE Assessment -ratio that appears most frequently. NET TAX CAPACITY New for payable 1990. Is used to extend taxes in accordance to multiplying the market value by the appropriate class rate. OBSOLESCENCE One of the causes of depreciation. It is the impairment of desirability and usefulness brought about by new inventions, current changes in design and improved processes for production, or from external influencing factors, which make a property less desirable and valuable for a continued use. Obsolescence may be either economic or functional. PARCEL A piece of land, regardless of size in one ownership. PROPERTY CLASS The class that has been assigned to the property based upon the use of the property. PROPERTY IDENTIFICATION NUMBER A geographically related parcel numbering system. The number contains twelve digits made up of section, township, range, quarter - quarter and parcel. The first six digits, based on the public land survey, geographically locate the section in which the property is located. The next two digits will designate in which quarter - quarter the property is located. The ninth through twelfth digits indicate the parcel within the quarter- quarter. The parcels will be numbered consecutively beginning with 0001. When a division is made, the next consecutive available number(s) will be assigned, and the old number(s) will be retained for historical data. RANGE Difference between the high sales ratio and the low sales ratio. 54