What method is used to measure the assessor’s appraisal performance?

The chief tool used too evaluate the assessment properties is the sales ratio study. It is a statistical analysis that compares the assessor’s estimated market values with actual sales prices for a 12-month study period that extends from October 1 through September 30 of the following year. This study identifies what is being done right, what is being done wrong and what appraisal activity is necessary for the next assessment year.

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1. What is considered an accurate assessment?
2. What method is used to measure the assessor’s appraisal performance?
3. How is a sales ratio calculated?
4. Does one sale tell us something about the assessment level of properties?
5. Are individual sales ratios also used to reveal the degree of assessment uniformity?