What is the primary focus of ratio studies?

The primary focus of ratio studies is to compare assessments to market value. This process involves analyzing the relationship between the assessed value of properties and their corresponding market values to determine the accuracy and equity of property assessments. Ratio studies are essential for ensuring that assessments are conducted fairly across different properties, helping to identify any discrepancies or patterns that may indicate inequities in how properties are evaluated.

By examining these ratios, assessors can make informed decisions about assessment practices and adjust values to maintain a consistent level of assessment relative to the current market, thereby promoting fairness in property taxation. This focus on assessment accuracy is crucial in maintaining public trust in the tax system and ensuring that taxpayers feel they are being treated equitably.