In land valuation, what does COD stand for?

In land valuation, COD stands for Coefficient of Dispersion. This measure is critical for assessing the level of uniformity in property valuations within a specific jurisdiction. The Coefficient of Dispersion quantifies the variability of assessed values compared to the median assessed value of properties. A lower COD indicates a more consistent valuation process, meaning that properties are assessed similarly relative to their market values, whereas a higher COD suggests more variability and potential inequities in assessments. This metric is vital for tax assessors to evaluate the fairness and accuracy of property assessments, ensuring that they align with market values and maintain equity among taxpayers.

Understanding COD is essential for making informed adjustments to assessment practices and ensuring that property tax systems function effectively and fairly.