Which of the following is a common use for ratio study results?

Ratio study results are primarily used to assess the level of assessment equity within a jurisdiction. They help to compare the assessed values of properties to actual market values, giving insight into how accurately properties are being appraised. In the context of equalizing local tax rates or state aid, ratio studies can identify disparities in property assessments between different areas. This information is vital for ensuring that tax burdens are fairly distributed and that state aid is allocated appropriately, particularly in jurisdictions with varying levels of property valuation practices.

By using the results of a ratio study, policymakers can implement adjustments to tax rates or aid distribution to promote equity among taxpayers. The findings can highlight whether certain areas are over- or under-assessed, leading to corrections that aim for a balanced tax system.

While calculating median home prices, forecasting economic trends, and determining effective tax rates are valuable practices, they do not directly leverage the core purpose of ratio studies, which is to evaluate and improve assessment equity for taxation and resource allocation.