Orange County NC Website
Browse       Search
10 <br /> 1 Slide #10 <br /> Performance Standards — Sales Ratio <br /> Sales Ratio = Assessed Value 1 Sales Price <br /> • It is the ratio of a property's assessed value to its actual sale price <br /> ■ Ratio of 1.00 (or 100%) indicates the assessed value is equal to the sale price. <br /> ■ Ratio above 1.00 means the assessed value is higher than sale price. <br /> • Ratio below 1.00 means the assessed value is lower than dale price. <br /> The median sales ratio represents the typical relationship between <br /> assessed values and the corresponding sales prices in an area <br /> such as countywide or in a neighborhood. <br /> 0RAN(JE COUNTY <br /> 10 1 CAROLINA2 <br /> 3 <br /> 4 Slide #11 <br /> Performance Standards — Sales Ratio <br /> - Median Sales Ratio is found by ordering all ratios from <br /> highest to lowest and selecting the middle value, which <br /> reduces the impact of outliers. <br /> * The mean sales ratio is the average of the dataset of sales <br /> ratios. <br /> - Median sales ratio is more widely used than the mean sales <br /> ratio and the standard provided by NCDQR. <br /> „ CRAW HE COUNTY <br /> LINA5 <br /> 6 <br /> 7 <br />