PDFWAC 458-53-160

Indicated personal property ratioComputation.

(1) Determination of ratio for assessed value strata. For each personal property assessed value stratum, excluding properties identified in WAC 458-53-070 (4)(a), an average assessed value, and an average market value shall be determined from the results of selected audit studies. The average assessed value for each stratum divided by the average market value determines the ratio for each assessed value stratum.
(2) Determination of indicated market value. The actual total assessed value of the county for each stratum divided by the ratio for each assessed value stratum, as determined by using the calculation set forth in subsection (1) of this section, determines the indicated market value of each stratum for the county.
(3) Additional categories. The actual county total assessed values of properties identified in WAC 458-53-070 (4)(a) are added as a separate category to the total county assessed value. A ratio determined for these properties is applied against the total assessed value for the category to determine the indicated total market value for the category.
(4) Determination of county indicated ratio. The sum of the actual total county assessed values is divided by the sum of the indicated market values to determine the county indicated personal property ratio.
(5) Example. The following illustration, using simulated values and ratios, indicates the ratio computation procedures for personal property.
STEP 1 - STRATUM AVERAGE VALUE AND RATIO COMPUTATIONS
 
 
(1)
(2)
(3)
(4)
Stratum
Number
of
Samples
Average
Assessed
Value
of
Samples
Average
Market
Value
of
Samples
Stratum
Ratio
(Col. 2 ÷ Col. 3)
$ 0 - 74,999
 
25
 
$ 17,000
 
$ 22,000
 
.773
75,000 - 249,999
 
15
 
124,000
 
235,000
 
.528
Over - 250,000
 
10
 
850,000
 
960,000
 
.885
STEP 2 - APPLICATION OF STRATUM RATIOS TO ACTUAL COUNTY ASSESSED VALUES
 
 
(1)
(2)
(3)
Stratum
Actual County
Personal Property
Assessed Values
Ratio
County Market
Value Related
to Actual Assessed
Value
(Col. 1 ÷ Col. 2)
$ 0 - 74,999
 
$21,500,000
 
.773
$ 27,813,713
 
75,000 - 249,999
 
23,000,000
 
.528
43,560,606
 
Over - 250,000
 
50,000,000
 
.885
56,497,175
 
WAC 458-53-070 (4)(a)
 
 
 
 
 
 
Properties
 
0
 
 
0
 
Totals
 
$94,500,000
 
÷ $127,871,499 = 73.9
 
County Indicated
 
 
 
 
 
 
Personal Property Ratio
 
 
73.9
%
[Statutory Authority: RCW 84.08.010, 84.08.070, and 84.48.075. WSR 16-11-031, § 458-53-160, filed 5/10/16, effective 6/10/16; WSR 96-05-002, § 458-53-160, filed 2/8/96, effective 3/10/96; WSR 94-05-064, § 458-53-160, filed 2/11/94, effective 3/14/94. Statutory Authority: RCW 84.48.075. WSR 87-12-029 (Order PT 87-5), § 458-53-160, filed 5/29/87; WSR 86-21-004 (Order PT 86-6), § 458-53-160, filed 10/2/86; WSR 84-14-039 (Order PT 84-2), § 458-53-160, filed 6/29/84; WSR 79-11-029 (Order PT 79-3), § 458-53-160, filed 10/11/79. Formerly WAC 458-52-100.]