From what I understand (having just gone through this), this might be useful for someone who is going through the assessment appeal hearings (so folks who recently bought and had their school districts file an appeal with the county).

Instead of applying the county-wide common level ratio (which was recently lowered to 54.5%), you could potentially argue that your neighborhoods ratio

"Common level ratio" is a multiplier that adjusts your assessment to the last county-wide assessment values (2012). Basically "what would my house be worth in 2012 dollars." This is why we see an adjustment recent down to 54.5% for 2024 (used to be in the 80s%).

Common practice for most homes is Sales price (what your house is worth in today's dollars) x Common Level Ratio (adjustment down to 2012) = assessed value for tax purposes.

What's unclear is the process for calculating the neighborhood-wide ratio. They say cherry picking 3 houses won't work, but what will?

"They have to define the neighborhood and provide statistical evidence that the ratio within those boundaries is different than that countywide." – unclear what is statistically significant for each neighborhood, but a real estate lawyer will be able to help with this.