What type of sales data might be utilized in a sales ratio study?

In a sales ratio study, multiple parcel sales are often utilized because they provide a broader and more comprehensive view of market trends and property values. By analyzing a collection of transactions involving several parcels, assessors can derive statistically significant insights regarding the relationship between sale prices and assessed values. This aggregated data helps to identify patterns and assists in ensuring uniformity and equity in property valuations.

Using multiple parcel sales allows for a more reliable comparison, minimizing the influence of outliers or unique selling circumstances that may arise in single parcel sales. Analyzing data from multiple properties helps create a robust dataset, which is essential for accurate assessment and valuation purposes. This approach helps to inform policies and strategies that lead to more equitable taxation and assessment across different types of properties.