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12 <br /> 1 Slide #12 <br /> Neighborhood Review Statistics Meanings <br /> Median Sales Ratio -Assessed Value/Actual Sales Price <br /> 1.0—Assessed value matches sales price <br /> Above 1.0—Assessed value is greater than sales price <br /> Below 1.0—Assessed value is below sales price <br /> ➢ COD - Coefficient of Dispersion measures horizontal uniformity in a sales <br /> ratio study, and shows how tightly individual property assessments are <br /> grouped around the median. <br /> y PRD Price Related Differential (PRD) — measures uniformity of sales ratios <br /> between low and high values properties <br /> A PRD close to 1.0 indicates neutral assessment practices <br /> - A PRD above 1.0 indicates higher-value properties are under-assessed (regressive assessment). <br /> A PRD below 1.0 means higher-value properties are over-assessed (progressive assessment <br /> 12 ORANGE ECOUNATY <br /> 2 <br /> 3 <br /> 4 Slide #13 <br /> Neighborhood Reviews — Additional Appeal <br /> Any property that received a change in value due to the neighborhood review <br /> received a value change notice, which allowed them the opportunity to appeal that <br /> value. <br /> Of the 2,763 properties that received a change in value from the neighborhood <br /> reviews, 17 appealed the new value. <br /> All appeals were residential properties <br /> Total reduction $585,600 <br /> Thirteen received additional reduction from their appeal <br /> One property increased in value <br /> Three properties did not change <br /> ORANGE COUNTY <br /> 13 NORTH CAROLINA <br /> 5 <br /> 6 <br /> 7 <br />