According to IAAO standards, what should the level of appraisal fall between?

The correct range for the level of appraisal, as set by the International Association of Assessing Officers (IAAO), is between 0.90 and 1.10. This range indicates an acceptable level of appraisal accuracy, ensuring that property assessments are neither significantly over nor under the market value.

Specifically, a ratio of 1.00 would reflect a perfect alignment with the market value. A range of 0.90 to 1.10 allows for a small degree of variability, acknowledging that assessments may not always be exact but should remain close to the market value to maintain fairness and equity in property taxation. This range helps ensure that properties are assessed in a consistent manner, which is essential for maintaining public trust in the assessment process.