Tax Glossary Definition (English)
Average Assessment Ratio Defined
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"A ratio determined by the Department of Revenue showing the relationship between the assessed value of all taxable property in a municipality and the equalized value of that property. The average assessment ratio is applied to all property in a municipality regardless of type or location. Assessed value divided by estimated fair market value equals average assessment ratio."
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Expert Dictionary: Average Assessment Ratio
Dictionary: Average Assessment Ratio
