The equalized valuation figures that are used in the Annual Debt Statement and the Supplemental Debt Statement are complied by the State Division of Taxation and certified in the Table of Equalized Valuations, based upon the ratio of actual sales of real estate and improvements in the local unit to the assessed valuations of such real property sold, to establish fair 100% true value statistics for debt limitation as well as comparison for other purposes.
a) True
b) False
