Section 5-3 - Definitions (a) As used in this chapter, the following definitions apply: - (i) "Abstract" means the abstract of the assessment roll as provided by W.S. 39-11- 102.1(c)(ii).
- (ii) "CAMA" means a computer assisted mass appraisal system authorized by the Department of Revenue and utilized by county assessors.
- (iii) "Class of property" means, as used in these rules, residential improved, commercial improved, residential vacant, and commercial vacant.
- (iv) "Coefficient of dispersion" (COD) means the average deviation of a group of numbers from the median expressed as a percentage of the median.
- (v) "Equalization order" means an order of the Board issued pursuant to W.S. 39-11-102.1 directing a county board of equalization to implement a program to bring a county into compliance with the standards contained in Section 6 of this chapter.
- (vi) "Level of appraisal" means the overall ratio of appraised values to market values. In the case of nonnormal distribution, level of appraisal shall be indicated by the median. In the case of normal distribution, level of appraisal shall be indicated by the mean.
- (vii) "Mean" is the result of adding all the values of a variable and dividing by the number of values.
- (viii) "Median" means the midpoint or middle value when a set of values is ranked in order of magnitude; if the number of values is even, the midpoint or average of the two middle values.
- (ix) "Mill levy report" means the report prescribed by W.S. W.S. 39-11-102.1.
- (x) "Price-related differential" (PRD) is the mean divided by the weighted mean. A PRD above 1.03 tends to indicate assessment regressivity. A PRD below .98 tends to indicate assessment progressivity.
- (xi) "Reappraisal" means the mass appraisal of one or more classes of property, or a portion thereof, within a jurisdiction completed prior to submission of the next abstract;
- (xii) "Representative sample" for a subgroup means a sample which, at a minimum, shall be a sample of sufficient numbers of sales to represent .5% of the total number of properties in that class of properties.