04/21/03 Bd of Appeal Booklet - Laserfiche WebLink

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City of Ramsey I I PROPERTY IDENTIFICATION NUMBER A geographically related parcel numbering system. The number contains twelve digits made up of section, township, range, quarter-quarter and parcel. The first six digits, based on the public land survey, geographically locate the section in which the property is located. The next two digits will designate in which quarter-quarter the property is located. The ninth through twelfth digits indicate the parcel within the quarter-quarter. The parcels will be numbered consecutively beginning with 0001. When a division is made, the next consecutive available number(s) will be assigned, and the old number(s) will be retained for historical data. RANGE Difference between the high sales ratio and the Iow sales ratio. REVALUATION The mass appraisal of all property within an assessment jurisdiction to obtain equalization of estimated market values. Reappraisal of a former assessment. SALES ASSESSMENT RATIO The ratio derived by dividing the estimated market value by the selling price. AGGREGATE RATIO The ratio determined by dividing the total estimated market value of all sales by the total selling prices. AVERAGE MEAN The total of all the ratios in a given set divided by the number of items in the set. MEDIAN RATIO The value of the middle item where an odd number of items are arranged (arrayed) according to size, or the arithmetic average of the two central items if there is an even number of items. It is a positional average and is not affected by the size of extreme values. SALES WEIGHTED AGGREGATE RATIO Total of assessment values divided by total of selling price. SAMPLE SUFFICIENCY GAUGE Square root of half the range divided by the number of properties. SPECIAL ASSESSMENT A charge made by government against real estate to defray the cost of making a public improvement adjacent to the property which, while of general community benefit, is of special benefit to the property so assessed. STANDARD DEVIATION Square root of total of squared deviations from mean divided by number of properties. TAX CAPACITY RATE (Local Tax Rate): Determined by dividing a taxing district's property tax levy by the taxing district's total net tax capacity. The tax capacity rate is expressed as a percentage of net tax capacity. TOPOGRAPHY The contour of land surface, i.e., flat, rolling, mountainous, etc. I I I I ! ! I I I I I I I 25