Which measure is indicated by a COD value closer to zero?

A coefficient of dispersion (COD) value closer to zero indicates high uniformity in assessments. The COD measures the variability of assessment ratios in relation to the median ratio. When this value is low, it signifies that the assessed values are closely clustered around the median, meaning that properties of similar characteristics are being assessed more consistently.

In the context of property assessments, this uniformity is essential for equity among property taxpayers. When assessments are uniform, it ensures that similar properties are treated similarly in terms of taxation, thereby promoting fairness in the assessment process.

As a result, a COD value near zero is desirable, as it demonstrates that there is minimal disparity in how properties are valued, leading to a more equitable assessment system. This is crucial for maintaining public trust in the assessment process and ensuring compliance with legal requirements for fairness and equity.