How Mass Appraisal Works

Targeting a 91% ratio would leave us vulnerable to the continuing robust real estate market. Like everything else in assessing, the date of reckoning is April 1. The study we conducted for this update took place in November and December and used sales from the twelve-month period of October 1, 2020 to September 30, 2021. If we were to establish a ratio of 91% now, there’s no doubt it would be below 91% by April 1, 2022. In order to certify at 100% our ratio needs to be at or above 91% for all qualified sales that took place for the twelve-month period that ends on April 1, 2022.

I settled on 93% as the target ratio. This would allow our ratios to erode a further 2% between January 2022 and April 1, 2022. Everything I read and hear indicates real estate will continue to increase in value in 2022.

We need to bring each grouping up to 93% or so. In the case of single-family dwellings, the aggregate number has to move from 72% to 93%.

We accomplish this by adjusting the square foot value of each single-family dwelling’s building style until the ratio for each type – ranch, Cape, colonial, etc. – is as near to 93% as possible. In this way all groupings are individually equalized at or close to 93% and the single-family dwelling grouping averages out to 93%.

We adjust land values in a similar manner, balancing one adjustment against the other to ensure the final outcome is correct so that all ratios having to do with any individual property is as close to the target ratio as is possible.