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Assessment Sales Ratio The chart below summarizes the results of the 2006 real estate assessment/sales ratio study conducted by the Virginia Department of Taxation, for jurisdictions in the Northern Virginia area. The study estimates the existing assessment/sales ratio (ASR) for each locality by comparing assessed values to the selling prices of normal sales of real property. The study also evaluates the level of uniformity in the assessment of real property within and among jurisdictions throughout the Commonwealth as reflected by a standard statistical measure known as the coefficient of dispersion (COD). The coefficient of dispersion measures how closely the individual ratios are arrayed around the median ratio. The smaller the measure of dispersion, the greater the uniformity of the ratios. The more closely the ratios are grouped around the median, the more equitable the property assessment, since properties were assessed at similar rates. According to the International Association of Assessing Officers “…a coefficient of 10% or less indicates a good distribution of assessments for residential properties. Similarly, a coefficient of 15% or less indicates a good distribution for more diverse classes (of property). The overall median assessment sales ratios and coefficients taken from the 2006 Assessment Sales Ratio Study for the County of Gloucester and surrounding jurisdictions are as follows:
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