If the median and mean ratios stratified by heating type are around one, what does this indicate about the stratification?

When the median and mean ratios stratified by heating type are both around one, this indicates that properties with different heating types are being assessed at their fair market values relative to one another.

This situation reflects horizontal equity, which is the principle that properties with similar characteristics and circumstances should be treated equally in terms of taxation and valuation. When the ratios are close to one, it suggests that the assessments do not favor one heating type over another, demonstrating fairness across the board. In other words, taxpayers owning similar-valued properties, irrespective of their heating type, are being assessed similarly, providing a good foundation for equitable taxation.

Other potential indicators such as vertical equity and market efficiency do not directly correlate with this scenario. Vertical equity refers to properties with differing characteristics being assessed in a way that reflects their relative values, which is not the focus here. Market efficiency would relate to how well the market values properties, but it doesn't specifically address the relative equality between different heating types. Price stability typically concerns the fluctuations or consistency of property values over time rather than the fairness of assessments across various stratifications.