Public Announcement from Select Board
Posted on: March 9, 2023 - 1:57pm
The Department of Revenue (DRA) has released the 2022 Equalization Ratio Study. The Town Assessor, Granite Hill Municipal Services and the Select Board have reviewed the documents.
Link to document
The ratio study for 2022 with the supplemental sales the DRA chose to use to reach their requirement of at least 20 sales. In this study there were 23 sales used. The results show the Ratio study has met the State of New Hampshire DRA requirements.
The price related differential (PRD) which is the statistic to determine vertical equity was 1.00 which indicates a neutral bias among the properties studied. The State requires this be between .98 - 1.03. The 1.00 shows the Towns PRD is statistically perfect.
The coefficient of dispersion (COD) is the measure of assessment equity shown as a percentage of the median ratio was 13.6% which is well under the DRA standard of 20%.
What this means is, the assessments in Lyme appear to be equitable according to the COD. Additionally, the PRD indicates there is no assessment bias towards either the higher valued properties or the lower valued properties, it is neutral. In closing the assessments in Lyme appear to be performing within the acceptable range.
Respectfully, Lyme Select Board