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Truth In Taxation is Not Prop 13.
No full textUtah has a unique law adjusting property tax revenue for local governmental taxing authorities, called Truth in Taxation. The session will discuss the history, rationale and recent changes to Utah\u27s law limiting property tax increases
Racial and Social Equity in Assessments
No full textThis session is about the common perception that assessments are biased, specifically in terms of race or income. The focus is on correctly defining the problem; common problems with determining if bias exists; using appropriate data sources and analytic processes to identify racial or social bias in assessments and remedial steps that can be taken to correct such bias if it is detected
Patrick Alesandrini, CAE, RES
No full textPatrick Alesandrini, CAE, RES, 2023https://researchexchange.iaao.org/presidents/1087/thumbnail.jp
A tour of regression!
No full textFor this session, I will bring together a group of modelers from various jurisdictions around the U.S. that are exploring 9 types of regression analyses. Each member will demonstrate the method and explain the best uses, pros and cons related to that method. The proposed methods are: 1. Multiple Linear Regression, 2. Polynomial Regression, 3. Logistic Regression, 4. Ridge Regression, 5. Lasso Regression, 6. Bayesian Linear Regression, 7. Geographically Weighted Regression, 8. Decision Tree Regression 9. Random Forest Regression
Inferring time trends using machine learning
No full textTime is an important factor in real estate appraisal. Analyzing the rate of change in property values becomes more challenging with heterogeneous types of properties and during uncertain times, such as the pandemic. At the Municipal Property Assessment Corporation (MPAC), in Ontario, Canada, we are utilizing the power of Machine Learning techniques to understand change trends in property values in Ontario. Through this approach, we can detect value change rates in a granular time dimension and by different geographical areas, property types and property attributes (size, quality of construction, age, etc.). Using an XGBoost (eXtreme Gradient Boosting) algorithm, we have trained a model on sales data for the properties sold over a period we want to detect the time adjusted factors (TAF). Machine Learning based time adjustments are then used in adjusting sales prices to the valuation date to build Ordinary Least Squares (OLS)regression models and generate ratio studies and time analysis reports
GIS for property tax oversight and administration
No full textOften mislabeled and misunderstood, property tax oversight and administration play’s a critical role in a fair and equitable system. From ratio studies to centrally assessed property, state property tax administrators are the collectors and stewards of vast quantities of information, much of which is spatial. The uses of the spatial information often spread far beyond the boundaries of property tax, yielding opportunities for government efficiency and automation. Through case studies and industries standards, this talk will navigate the complex data and analysis systems used
Paperless Statements and Online Submission of PP Listings
No full textReduce mailing budgets and simplify communication for value notices and personal property listings through the use of paperless communications. You do not need a robust IT staff nor do you need to already have acquired email addresses. The Master\u27s Touch, LLC can provide a total solution with payback in your first year
The Impact of Government Policies on Valuation in Korea
No full textThis presentation briefly introduces the officially announced price and property tax assessment in Korea first and then discusses how progress has been made, the reasons the officially announced prices exceeding actual sales prices, and how the government set countermeasures
Leveraging Seamless Integration of Esri Tools in GAMA
No full textESRI’s Assessment Analyst GAMA provides a location-centric approach to fair, equitable, uniform, and accurate valuations. The ease of using CAMA for calculating property values can now be enhanced with the accuracy of integrated geographic information systems (GIS). In this session, discover how GAMA leverages seamless integration of other ESRI GIS tools for bulk editing, assessment analytics, and mobile data collection
Comparing Sold and Unsold Properties: The Ultimate Test for Assessed Values
No full textThe Netherlands Council for Real Estate Assessment calculates several key figures to analyze differences between sold and unsold properties. In the presentation we show how we use these indicators in evaluation of the newly estimated values