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In the 2015 reappraisal, the Jefferson County Assessor’s office used three of the four state-approved techniques: Sales Ratio, Median Monthly Sales Ratio and Multiple Regression analyses. The Paired Sales technique had insufficient data sets and was not considered.
The analysis for 2015 exhibited a dramatic recovery in market conditions for all residential properties – the total number of qualified sales increased from 9,995 to 17,867. Approximately 1,690 Public Trustee Deeds (foreclosures) were recorded in Jefferson County; this was a significant decrease from the previous time frame (3,916 foreclosures). Of the total real-estate owned by lenders (REO), 92% were considered qualified sales and included in our analysis.
New homes were removed from the time trend analysis so that only properties used in the prior reappraisal were considered for the ratio study.
New home sales were included in the overall valuation analysis. The analysis indicated different results by property subclasses and location. See the table below for specific adjustment time periods and amounts. Time trend total adjustments ranged from 7% to 28% - and varied by property type and economic area.
The Single Family Time-Trend Study Graph represents the 24-month time frame. The line is the regression line and its “best fit” position. The black circles are the median sales ratio for each month. July 2012 is Month 1; December 2012 is Month 6; June 2013 is Month 12; and June 2014 is Month 24.
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