prb: Calculate Coefficient of Price-Related Bias (PRB)
In jh-206/taxr: Tax Assessment Ratio Analysis

Description Usage Arguments Details Value

The coefficient of price-related bias (PRB) is a measure of veritical equity, and is calculated by regressing the percentage difference from the median ratio on percentage differences in value.

1	prb(assessed, saleprice, ci = 0.95, na.rm = F)

`assessed`	A numeric vector of assessment values.
`saleprice`	A numeric vector of sale prices.
`ci`	Confidence level for interval.
`na.rm`	Logical value indicating whether NA values should be removed.

The PRB is a standard metric to assess "vertical equity", or whether high and low value properties are assessed at similar levels. It is obtained by regressing. Negative values are indicative of assessment regressivity, while positive values are indicative of assessment progressivity. The PRB is generally preferred to the PRD, since the latter is known to be upwardly biased.

A named numeric vector with the PRB value and high and low bounds.

jh-206/taxr documentation built on May 28, 2019, 12:22 p.m.