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11 <br /> Residential Appraisal , continued <br /> Current Market Conditions <br /> Mass appraisal effectiveness is measured by calculating the median <br /> sales ratio, which shows what percentage of market value is <br /> represented by current tax assessment. <br /> Current estimate of Countywide Sales Ratio: 63.9%. <br /> Median sales ratio has fallen significantly over the last three years, and <br /> this indicates that sales prices have been on the rise since the 2021 <br /> Revaluation. Tax assessments assigned January 1, 2021 are <br /> approximately 64% of current market sales. <br /> The overall percentage of increase in tax assessments will likely be <br /> higher than the increase experienced in the 2021 Revaluation. <br /> ORANGE COUNTY <br /> 9 NORTH CAROLINA <br />