Tax Data Series


Valid for sales from 2005 through 2016 as well as through 2017 for those counties undergoing reappraisal or update in 2018 or 2019

The attached spreadsheet contains residential property sales data by county from calendar year 2005 through 2016; in addition 2017 data is available for those counties experiencing an update or reappraisal during 2018 or 2019. The spreadsheet shows for each county and subdivision (city, village, or township), the number of residential sales, the median sales price for each period, and the median ratio of the county auditor’s market value to sale price. The spreadsheet is divided into three worksheets; each worksheet contains information for counties going through either reappraisal or triennial update in the year indicated.

The number of sales reported in the spreadsheet includes only those sales that are considered valid for use in sales ratio studies. Excluded are sales due to foreclosure, sales between family members, sales where only a portion of a parcel is part of the transaction, and other sales that are not deemed to be arm’s-length transactions by a willing seller. In addition, sales where the price of the transaction differs from the market value for tax purposes by more than 50 percent are also excluded.

The final column in the table is the median ratio of the market value for tax purposes as a percentage of sales price within each jurisdiction. Under guidelines established by the International Association of Assessment Officers (IAAO), the median ratio should be between 90 percent and 110 percent for taxable values to best reflect actual market conditions. In practice, the Department of Taxation aims to have the ratios in the year of reappraisal or triennial update to be at least 90 percent and, preferably, in the 92-94 percent range.

Historically, when a county is coming up for reappraisal or triennial update, the value to price ratio has been in the low to mid-80 percent range, so the county must raise values to bring that ratio above 90 percent and into the acceptable range for the county auditor’s value to reflect true market value. Under current real estate market conditions, in areas where the ratio is approaching or has exceeded 100 percent, values may have to be lowered.