Which component is NOT involved in calculating the Sales Ratio?

The sales ratio is a crucial metric used in property assessment that compares the assessed value of a property to its actual sale price. The primary components that factor into this calculation are the assessed value and the sales price of the property.

Assessed value represents what local governments determine is the fair market value of the property for tax purposes. The sales price is the amount for which a property is sold in an open market transaction. By dividing the assessed value by the sales price, assessors can derive the sales ratio, which helps measure the effectiveness and accuracy of property assessments within a jurisdiction.

Rent does not factor into the calculation of the sales ratio, as it pertains to income generated by a property rather than its transactional sale. Market assessment, while similar in its purpose to understand property values, is related to the general evaluation of properties in a market but is not a direct component used in the sales ratio formula.

Thus, rent is the component that is NOT involved in calculating the sales ratio.