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28 <br /> Slide #10 <br /> Countywide Vertical Equity Analysis <br /> • Measures Analyzed <br /> Measures of Variability-dispersion or spread of sales ratios in relation to the mean or median sales ratio <br /> Standard Deviation <br /> Coefficient of Dispersion <br /> Coefficient of Variability <br /> Coefficient of Concentration <br /> - Low measures of variability indicate data are clustered tightly around the mean,and high measures indicate data are <br /> more spread out <br /> ORANGE COUNTY <br /> 10 NORTH CAROLINA <br /> Slide #11 <br /> Neighborhood Level Equity Analysis <br /> • Conducted by the Tax Office <br /> - Analyzed all 1,026Assessment Neighborhoods <br /> Neighborhoods with five or more sales (minimum threshold for reliability recommended by IAAO) <br /> Used same equity measures for neighborhoods with five or more sales <br /> - Added measure of Price Related Bias(PRB)—measures whether sales ratios are systematically higher,lower or <br /> steady as values increase. <br /> • A negative value indicates regressivity while a positive value indicates progressivity <br /> 86 neighborhoods outside of statistical measures of equity <br /> • Neighborhoods with less than five sales <br /> - Granular review of values in neighborhoods with less than five sales <br /> Looking for inconsistencies,reasonableness <br /> - 76 neighborhoods identified for closer review <br /> ORANGE COUNTY <br /> 11 NORTH CAROLINA <br />