What aspect does the Coefficient of Dispersion (COD) measure?

The Coefficient of Dispersion (COD) is a statistical measure that specifically assesses the uniformity of assessments or valuations among similar properties, making option B the correct choice. It helps appraisers understand the level of variation in property assessments compared to the actual market values. A low COD indicates that property assessments are fairly consistent and closely aligned with market values, suggesting a more accurate and fair appraisal system. Conversely, a high COD indicates greater disparity among assessments, which can suggest issues in valuation methods or inconsistencies in property characteristics among comparables.

The other aspects mentioned do not relate directly to what the COD measures. Overall property value reflects a single property's worth rather than the relationship between similar properties. Cost recovery over time pertains to the depreciation and economic aspects of property investment rather than assessment accuracy. Value appreciation trends focus on the increase in property values over time, rather than the consistency of assessments at any single time. Thus, the COD provides a specific insight into the reliability of assessments among comparable properties rather than overall values or appreciation trends.