What are the acceptable limits for the median ratio to meet compliance standards?

The acceptable limits for the median ratio in compliance standards typically range from .36 to .44. This range is established to ensure fairness and accuracy in property assessments, allowing for a reliable comparison of property values. The median ratio represents the relationship between assessed values and actual sales prices, helping to evaluate whether the assessments are equitable across properties.

When the median ratio falls within this range, it indicates that the assessed values are closely aligned with market values, which is essential for maintaining the integrity of the appraisal process. A median ratio that meets these standards helps to prevent significant disparities in property taxation and ensures that taxpayers are treated fairly.

Other ranges presented in the options do not align with these compliance standards. For instance, ranges that are too low or high may suggest that assessments are either undervaluing or overvaluing properties, leading to potential issues in equity and fairness in the appraisal system. Therefore, a median ratio of .36 to .44 is considered optimal for compliance, as it reflects a balance between assessed values and market realities.