Reappraisal Definitions
Please see the reappraisal statistic definitions below to better understand the Tax Reappraisal process in Guilford County. Guilford County uses these standard statistics to measure the accuracy and uniformity of property tax assessments, and to ensure that property taxes are distributed fairly based on the actual, current market value of properties.
If you have questions or need help, email us at taxappraisal@guilfordcountync.gov or call 336-641-4814.
Residential Reappraisal Statistics
| Median Sales Ratio (View definition) | 1.001 | Within acceptable range |
|---|---|---|
| COD (View definition) | 6.2103 | Within acceptable range |
| PRD (View definition) | 1.0188 | Within acceptable range |
| PRB Coefficient (View definition) | -0.002837805 | Within acceptable range |
Sales Ratio
Sales Ratio compares a property’s assessed value to its actual sale price. This helps us see how close our assessments are to real market values.
For example:
Assessed value: $200,000
Recent sale price: $220,000
Sales Ratio = 200,000 divided by 220,000, which equals 0.91 (or 91%). This means the property was assessed at 91% of its sale price.
Acceptable range for International Association of Assessing Officers: 90%-110%
Coefficient of Dispersion
Coefficient of Dispersion (COD) measures how consistent property assessments are within a group of similar properties. It shows how much individual property values differ from one another.
Imagine 10 homes in the same neighborhood that are very similar.
If all the homes are assessed close to their market value, the COD will be low.
If some homes are assessed much higher or lower than others, the COD will be high.
So basically:
A low COD means assessments are more uniform and fair.
A high COD means assessments are less consistent.
Acceptable Range for International Association of Assessing Officers:
Single-Family Residential Properties
Newer / homogeneous areas: 5% – 10%
Older / more heterogeneous areas: 5% – 15%
For rural residential properties, a slightly higher COD may be acceptable.
Price Related Differential (PRD)
Price Related Differential (PRD) checks if assessments are consistent across low, mid, and high-value properties, or if one group is treated differently.
Imagine using a level tool. Is the bubble in the center?
How to Interpret PRD
| PRB Value | Interpretation |
|---|---|
| 1.00 | No price-related bias |
| Greater than 1.03 | Regressive (lower-priced properties are over-assessed) |
| Less than 0.98 | Progressive (higher-priced properties are over-assessed) |
Acceptable range for International Association of Assessing Officers: 0.98 – 1.03
Price Related Bias (PRB) Coefficient
Price Related Bias (PRB) Coefficient measures if lower-value properties are assessed differently than higher-value ones compared to their market value.
For example, do lower-priced properties usually have higher assessment ratios than expensive ones, or the other way around?
Imagine a slope: is the hill going up or down?
Acceptable range for International Association of Assessing Officers: -0.05 to +0.05. Ideal is 0.00