What is the result if a subject property ratio falls within the common level range?

When a subject property ratio falls within the common level range, it indicates that the property's assessed value is consistent with the values determined by the local taxation district compared to the market value. This means that the assessment is deemed appropriate, reflecting the property’s fair market value relative to similar properties in the area.

In this context, if the assessed value aligns with the common level range, there would be no basis for a reduction in assessed value since the property is assessed fairly according to comparable properties. This conclusion helps maintain equity in the property tax system, ensuring that property owners are paying taxes based on an accurate representation of their property's worth.

The other options suggest scenarios that would not occur when the ratio is within the common level range. For example, a significant increase in assessed value or mandatory reassessment would imply discrepancies in valuation, while immediate approval of an appeal would be valid only if it were proven that the assessment was incorrect. These situations contradict the established understanding when the property is already accurately assessed within the expected range.