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16 <br /> Performance Measures — Price-Related Differential <br /> (PRD ) <br /> PRD = Mean Ratio divided by Weighted Mean Ratio <br /> ❖ Mean Ratio = sum of appraised values divided by number of appraised <br /> values <br /> ❖ Weighted Mean Ratio = sum of appraised values less sum of sales prices <br /> IAAO Standard Acceptable range: 0.98- 1 .03 <br /> Results of PRD : <br /> ➢ A PRD above 1 .03: appraisal process may be regressive, meaning higher- <br /> valued properties are undervalued compared to lower-valued properties. <br /> ➢ A PRD below 0.98 appraisal process may be progressive, indicating that <br /> higher-valued properties are assessed at a higher rate than lower-valued <br /> properties. <br /> ORANGE COUNTY <br /> 14 NORTH CAROLINA <br />