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Ryder Appraisal District
Introduction
Ryder Appraisal District (RAD) is the county agency responsible for property taxation in Ryder County, South Carolina. Over the years, taxpayers have expressed concerns about the inequities in residential property tax assessments in Ryder County. In response to these concerns, James Bradford, the newly-elected Ryder County Tax Commissioner, has proposed a simplified property tax assessment plan. The plan aims to minimize changes in individual taxes, maintain revenue neutrality, and reduce the workload of RAD appraisers. However, before implementing the new plan, Bradford wants to determine the accuracy of the square footage estimates in the current database and use the available data to estimate the flat tax amount and the tax rate per square foot under the new system.
Statistical Analysis
To determine the accuracy of the square footage estimates in the current database, I compared these estimates with the actual square footage values obtained by the staff appraiser. The UNIVARIATE procedure in SAS was used to provide summary statistics and distribution analysis of a variable. In this case, the procedure was applied to the variable 'tax_adj', which represents the adjusted property tax values for the sampled residential properties.
The analysis was performed on a sample of 77 residential properties. The mean adjusted property tax for these properties is approximately $1,225.29. The standard deviation, which indicates the dispersion of the tax values, is approximately $124.98. The variance, another measure of dispersion, is calculated as the square of the standard deviation and is approximately 15,620.03.
Two tests for normality were performed on the tax_adj variable: the Shapiro-Wilk test and the Kolmogorov-Smirnov test. The results of these tests help to determine if the distribution of the adjusted property tax values follows a normal...…in implementing the proposed simplified property tax assessment plan.
2. Determine the optimal flat tax amount and tax rate per square foot, keeping in mind the goals of minimizing changes in property tax for improved property owners and maintaining revenue neutrality.
3. Improve recordkeeping and data management systems to facilitate accurate data maintenance and future assessments.
4. Regularly review and evaluate the effectiveness of the tax assessment plan to ensure fairness and consistency in the property taxation system.
Conclusion
If it implements these policy recommendations and solutions, Ryder County can address the existing issues in the residential property taxation system and create a more equitable, consistent, and transparent assessment process for property owners. Accurate square footage data, optimal tax rates, and improved recordkeeping will be key to the successful implementation of the proposed simplified property tax assessment plan. Regular evaluations will help to maintain the system's effectiveness and address…
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