Section 54:1-35a - Definitionsa. The "average ratio" of assessed to true value of real property for a taxing district for the purposes of this act shall mean that ratio promulgated by the Director of the Division of Taxation pursuant to P.L. 1954, c. 86 (C. 54:1-35.1 et seq.), as of October 1 of the year preceding the tax year, as revised by the tax court.b. The "common level range" for a taxing district is that range which is plus or minus 15% of the average ratio for that district.L.1973, c.123, s.1, eff. 5/9/1973; amended by L.1979, c.51, s.1, eff. 3/21/1979; L.1983, c.36, s.10, eff. 1/26/1983.