What is meant by the term "sales ratio"?
The sales ratio is the relationship between a property's assessed value and the property's selling price. This relationship is expressed as a ratio (a percentage). The assessment ratio is calculated by dividing the property's assessed value by the property's selling price. For example, if a property is assessed at $95,000 and sold for $100,000, you divide $95,000 by $100,000 and this gives you an assessment ratio of 95%.

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1. Who establishes the tax rate?
2. How are real estate taxes calculated?
3. What is the effective date of annual assessments?
4. How do I know if my property assessment has changed?
5. Will home maintenance increase the assessment?
6. How can my assessment increase or decrease even when there have been no changes made to the property?
7. Are properties reassessed every year?
8. What is meant by the term "sales ratio"?
9. What is the required ratio of assessed value to fair market value?
10. How do I access property assessments and record information?
11. What should a property owner do if they disagree with their assessment?