What measure assesses equity in appraisal between low-value and high-value parcels?

The Price-Related Differential (PRD) is a key measure used to evaluate equity in property appraisal across different value ranges. It specifically compares the average assessment ratios of low-value parcels to those of high-value parcels. This measure is crucial for understanding whether lower-value properties are assessed at a disproportionately higher or lower rate than their higher-value counterparts, helping to highlight any inequities in the assessment process.

The PRD value should ideally be close to 1. If it is significantly greater than 1, it indicates a higher assessment ratio for lower-value properties compared to higher-value ones, suggesting potential inequities. A PRD significantly less than 1 would indicate the opposite. Thus, the PRD effectively informs assessors about the fairness and consistency of property valuations across different segments of the property market.

In contrast, while other measures might be related to assessments, they do not focus on the comparison between different property value segments in the same way.