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| Assessment roll - The basis on which the property tax levy is allocated among the property owners in a jurisdiction with taxing powers. The assessment roll usually lists an identifier for each taxable parcel in the jurisdiction, the name of the owner of the record, the address of the parcel or the owner, the assessed value of the land, the assessed value of the improvement (s), applicable exemption codes if any, and the total assessed value. Synonyms include cadastre, list, grand list, abstract of ratables, and rendition. |
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| Assessment-sale price ratio - The ratio of assessed value to sale price (or adjusted sale price ) of a property. |
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| Assessment year - The 365 days beginning with the appraisal date . |
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| Assessor - The head of an assessment jurisdiction. Assessors may be either elected or appointed. The term is sometimes used collectively to refer to all administrators of the assessment function. |
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| Audit trail - A set of records of the changes made to another set of records. |
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| Average - The arithmetic mean . |
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| Average deviation - The arithmetic mean of the absolute deviations of a set of numbers from a measure of central tendency such as the median . Taking absolute values is generally understood without being stated. The average deviation of the numbers 4, 6, and 10 about their median (6) is (2 +0+4)/3, or 2. |
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| Balance - The principle that markets tend to move toward e quilibrium after a change in one of the determinants of supply or demand . |
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| Balloon mortgage - A mortgage. A mortgage not fully amortized at maturity and requiring a lump sum or balloon payment. |
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| Band-of-investment analysis - A perspective on (and a technique for estimating) the discount rate. The discount rate is viewed as being composed of two components, each weighted in proportion to typical financing terms for properties of the type in question. For example, if 75 percent loans are available at 9 percent interest and investors are known to seek a 14 percent return on equity, then the discount rate is 10.25 percent, this, (.075 x .09= .0675)+ (.025 x 14= .0350)= .1025=10.25 percent. |
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