Section 50IAC26-6-11. Statistical calculations for equalization and annual adjustments

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Assessment software must be able to calculate the following:

(1) An assessment ratio according to the Real Property Assessment Manual requirements established under 50 IAC 2.3.

(2) An assessment-assessment ratio in accordance with the IAAO Standard on Ratio Studies and 50 IAC 27.

(3) Ratios to the .95 confidence level. Assessment software may support calculation of ratios to alternate confidence levels in addition to the .95 confidence level.

(4) For a group or groups of parcels defined by the user, the following:

(A) A median assessment ratio.

(B) The coefficient of dispersion.

(C) The price related differential.

(Department of Local Government Finance; 50 IAC 26-6-11; filed Jan 28, 2011, 3:07 p.m.: 20110223-IR-050100165FRA; errata filed Sep 17, 2012, 3:42 p.m.: 20121003-IR-050120546ACA)

                    
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