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'92 assessments
are on target,
sales data shows
By SHARON KILPATRICK
Rappahaniwek N.w. Staff WriUr
Whatever the merits of particular appeals of assessment* that are before the Circuit Court, the charge that the assessment is generally too high is not supported by recent sales data.
The Commissioner of Revenue’s office keeps records of sales of real estate compared to assessments. In the first six months of this year, since the new assessments took effect, there have been 71 sales of real estate in the county. Thirty-eight have been for more than their assessments, and 31 have been for less. Two have been for the same amounts as the assessments.
In all, these 71 properties have been assessed at 98.7 million and have sold for $9.2 million. The total of the sales has been 5.6 percent above the assessments.
There is quite a range within these sales. Twentyeight sales, or 89.4 percent were between 10 percent below the assessment and 10 percent above.
Another 28 sales, again 39.4 percent, were more than 10 percent above assessments including 16 sales or 21.1 percent that were more than 30 percent above the assessment. Three sales were for more than three times the assessments.
Fifteen sales were for prices that were more than
See Target, Page A-5
'
73.4%