Table 5 Measures for vertical and... | Emerald Publishing

Table 5

Measures for vertical and horizontal uniformity

Measure	Purpose	Recommended standard (IAAO/other)	Interpretation	Obtained	Comments
COD	Horizontal equity	20% for residential, and 20% income-producing	The COD measured how consistent the assessments are relative to the market values (price). Horizontal equity is acceptable when the COD is less than the nominated threshold (20%). Where it is above the nominated threshold, it suggests horizontal inequity	19,33%	Acceptable
PRD	Vertical equity (fundamental)	0.98–1.03	Where the PRD is < 0,98, high-value properties are over-assessed. Where the PRD is > 1,03, higher value properties are under-assessed	1,02	Acceptable
PRB	Vertical equity (refined)	−0.05 to +0.05	PRB between −0,05 and + 0.05 is acceptable. PRB > +0.05 suggests a regressive bias (high-valued properties are under-assessed). PRB < −0,05 suggests a progressive bias (high-valued properties are over-assessed)	−0,01	Acceptable

Measure	Purpose	Recommended standard (IAAO/other)	Interpretation	Obtained	Comments
COD	Horizontal equity	20% for residential, and 20% income-producing	The COD measured how consistent the assessments are relative to the market values (price). Horizontal equity is acceptable when the COD is less than the nominated threshold (20%). Where it is above the nominated threshold, it suggests horizontal inequity	19,33%	Acceptable
PRD	Vertical equity (fundamental)	0.98–1.03	Where the PRD is < 0,98, high-value properties are over-assessed. Where the PRD is > 1,03, higher value properties are under-assessed	1,02	Acceptable
PRB	Vertical equity (refined)	−0.05 to +0.05	PRB between −0,05 and + 0.05 is acceptable. PRB > +0.05 suggests a regressive bias (high-valued properties are under-assessed). PRB < −0,05 suggests a progressive bias (high-valued properties are over-assessed)	−0,01	Acceptable

Source(s): Authors’ own compilation and work