Section 50IAC27-4-2. Equation

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Assessed values are the numerators in the ratios used in a ratio study. Sale price, as an indicator of market value-in-use, is the denominator in the calculation of the ratio.

Assessed Value / Sales Price = Sales Ratio

(Department of Local Government Finance; 50 IAC 27-4-2; filed Apr 8, 2010, 1:45 p.m.: 20100505-IR-050090502FRA)

                    
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