| dc.description | Te article addresses the usage of soil productivity ratings for the uniform assessment equalization amongst townships in Eddy County, North Dakota in 1971 for their going market value. Equity in property tax assessments became a goal throughout the United States in the latter part of the 19th century. Inequity in real estate tax assessment, including farm and ranch lands, was one of the major problems in real estate tax administration in North Dakota. This goal was difficult to achieve in reality due to property values which tended to fluctuate. Competent assessors could disagree on what constitutes fair market value. These inequities in average per-acre values among townships within a county and among counties within a state were presumably reduced to some extent by county and state assessment equalization procedures. One method commonly used by appraisers to estimate farmland values was to capitalize net income from it. Capitalizing net income can provide a more objective basis for equitable assessment of farmland when market data are. It is essential that all tools available, including soil productivity ratings and comparable sales, need to be used to insure equitable treatment for property tax-paying citizens. | |
