Functions |
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Coefficient of Dispersion (COD)COD is the average absolute percent deviation from the median ratio. It is a measure of horizontal equity in assessment. Horizontal equity means properties with a similar fair market value should be similarly assessed. |
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Calculate Coefficient of Dispersion (COD) |
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Price-Related Differential (PRD)PRD is the mean ratio divided by the mean ratio weighted by sale price. It is a measure of vertical equity in assessment. Vertical equity means that properties at different levels of the income distribution should be similarly assessed. |
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Calculate Price-Related Differential (PRD) |
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Price-Related Bias (PRB)PRB is an index of vertical equity that quantifies the relationship betweem ratios and assessed values as a percentage. In concrete terms, a PRB of 0.02 indicates that, on average, ratios increase by 2% whenever assessed values increase by 100 percent. |
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Calculate Coefficient of Price-Related Bias (PRB) |
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(Modified) Kakwani Index (MKI)The Kakwani Index (KI) and the Modified Kakwani Index (MKI) are Gini-based measures to test for vertical equity. They work by comparing the cumulative distribution of assessed values to the distribution of sale prices. |
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Calculate Kakwani and Modified Kakwani Index |
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Other functionsFunctions for other assessment-related tasks |
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Calculate bootstrapped confidence intervals |
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Detect sales chasing in a vector of sales ratios |
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Detect outlier values in a vector using IQR/quantile method |
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DataSample data used for testing and demonstrations |
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Sample of ratio and sales data pulled from CCAO records |