Equity in Real Property Valuation
Equity is a measure of consistency in the valuation of real property. The ultimate goal is to have the same level of assessment regardless of use or geographic boundaries. This does not mean that every property should have a similar value. Rather, each property should be assessed at a similar proportion in relation to its actual market value.
When studying equity, you would want to compare the subject property to other properties that are as similar as possible in at least the use, location, size, quality, and condition of the property in question.
For additional information or questions concerning how equity is measured, please contact the Assessor's Office at (435) 893-0430.