FROM: Barry Wood, Assessment Division Director
RE: 2014 Ratio Study Guidance
DATE: January 17, 2014
The purpose of this memorandum is to provide guidance to assessing officials regarding changes in the ratio study review process by the Department of Local Government Finance (“Department”) for the 2014 assessment year. The guidance is similar to last year’s guidance, with a few minor changes. The first section describes the 2014 ratio study process in conjunction with the 2014 annual adjustment (“trending”) process. The second section details changes to theratio submission format. These changes are described in more detail in the attached 2014 RatioStudy Format document.
NOTE: The cyclical reassessment commences on July 1, 2014, for the March 1, 2015 assessment date. The Department will provide guidance on the annual adjustment and ratio study review process during cyclical reassessment at a future time. The 2014 annual adjustment should not be performed under the guidelines for cyclical reassessment.
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See the full memorandum here:
