What plays a key role in preparing for a reappraisal?

A sales ratio study is essential in preparing for a reappraisal because it examines the relationship between sale prices of properties and their assessed values. This study provides valuable insights into the current market conditions, helping assessors determine if the assessment ratios are reflective of the true market value. It can reveal trends in property values and guide the assessor in identifying areas where adjustments may be necessary to ensure equitable taxation.

The sales ratio study is a statistical analysis that can indicate whether the assessments are fair and appropriate based on actual sales data. It enables assessors to identify patterns and variances in property valuations across different categories and neighborhoods, thus informing the reappraisal process.

Market surveys, property inspection reports, and client feedback analysis have their own contributions to the assessment process but do not provide the same foundational quantitative data that is critical in making informed valuation decisions during a reappraisal.