What indicates a lack of uniformity in property valuations?

A high Coefficient of Dispersion (COD) value indicates a significant lack of uniformity in property valuations. The COD measures the variation of property assessments relative to the property values, reflecting the consistency and equity of the valuation process. A high COD suggests that there is a wide disparity in the assessed values compared to market values, meaning that some properties might be overvalued while others could be undervalued. This inconsistency can result in inequitable tax burdens among property owners and can highlight issues in the appraisal practices or assessment methodologies used.

In contrast, other measures like a high Price-Related Differential (PRD) score, concordant ratios, and value compliance are linked to uniformity or equity in property valuations, rather than a lack of it. A high PRD can point to assessment disparities but is often evaluated alongside COD. Concordant ratios indicate that the assessments are consistent with market values, suggesting uniformity. Value compliance typically indicates that appraisals are adhering to set standards, again implying uniformity rather than a lack of it.