Sales analysis is a vital component of determining market values during both a Triennial Update and a Revaluation.
The Auditor examines the specifics of properties in each property class (residential, agricultural, commercial, industrial and exempt) that sold during the last three-year period. He/she then looks for patterns of sales within the various neighborhoods throughout the county.
The Auditor uses this information, in part, when deciding if the current neighborhood boundaries (which were set during the last Triennial Update or Revaluation) should remain the same, or be redrawn based on what the sales patterns indicate.
This information also assists the Auditor in setting the land and building valuation schedules.
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