Category N, intangible personal and uncertified property , included miscellaneous properties listed on the local tax rolls but not certified by local appraisal review boards at reporting time. With updated information during the appeals process, Comptroller staff distributed the certified values among other property categories. Totals may not add because numbers are rounded. As in past years, the state-mandated homestead exemptions and the taxable value loss for those homes with tax ceilings for qualified homeowners age 65 or older account for about 87 percent of the deducted amount. Appraisal districts achieved a study result of 99 percent of market value, the same level as the previous two studies.
State law requires tax appraisals to be equal, uniform, and at market value.
The median appraisal ratio measures how close a CAD's typical appraisal is to market value. The tables on the following pages show the statewide median appraisal ratios from 1985 to 1998 and the statewide coefficients of dispersion for the same time period.