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Sales Ratio Standards <br />During the Revaluation process sales ratio studies are normally performed by neighborhood using the <br />sales that were recorded in the year preceding the effective date of the revaluation. It is the intent of <br />Cabarrus County to appraise all neighborhoods within the performance standard of the Standard on <br />Ratio Studies of the international Association of Assessing Officers (IAAO) as follows: <br />Page 84 <br />Measure of <br />Coefficient <br />Type of Property <br />Central Tendency <br />of Dispersion <br />PRD* <br />Single Family Residential <br />Newer, more homogenous areas <br />.90-1.10 <br />10.0 or less <br />.98-1.03 <br />Older, heterogeneous areas <br />.90-1.10 <br />15.0 or less <br />.98-1.03 <br />Rural residential <br />.90-1.10 <br />20.0 or less <br />.98-1.03 <br />Income producing properties <br />.90-1.10 <br />Larger, urban jurisdictions <br />.90-1.10 <br />15.0 or less <br />.98-1.03 <br />Smaller, rural jurisdictions <br />.90-1.10 <br />20.0 or less <br />.98-1.03 <br />Vacant land <br />.90-1.10 <br />20.0 or less <br />.98-1.03 <br />Other real property <br />.90-1.10 <br />Varies <br />.98-1.03 <br />*The standards for the PRD are not absolute <br />when samples are small or wide variations in price <br />exist. <br />Page 84 <br />