What is the definition of a Statistical Class in property assessment?

A Statistical Class in property assessment is defined as a three-digit classification code identifying structure characteristics. This classification is crucial for appraisers as it helps standardize the way different properties are categorized based on their physical and structural characteristics, such as type of construction, number of rooms, and overall quality. This system allows for a more systematic approach to property assessment, facilitating comparisons and ensuring that assessments reflect the unique features of properties within a specific classification. By using these codes, assessors can effectively evaluate properties and contribute to fair and equitable property taxation.