Presentation Category
04 APPRAISING PROPERTY
Session Description
There are several traditional methods for deriving land values in the literature, but few have been as successful as the allocation method when dealing with limited to non-existent land sales. This session discusses a methodology that expands the allocation method using geographically weighted regression to allow for the quantification of spatially varying effects that contribute to the value of land. The results of this analysis provide for greater accuracy and uniformity in deriving an overall value of a property.
Audience Expertise
General Interest (Appropriate for all experience level)
Start Date
8-31-2022 10:30 AM
End Date
8-31-2022 11:30 AM
Moderator
Kathryn Edmondson, City of Virginia Beach, VA
Download Comments
Many of the sessions at the 2022 Annual Conference were recorded and are available to full conference attendees. Check the following page to see if this session is available at https://www.iaao.org/2022sessions.
Land Valuation Using Geographically Weighted Regression (GWR) and the Allocation Method
Room 306
There are several traditional methods for deriving land values in the literature, but few have been as successful as the allocation method when dealing with limited to non-existent land sales. This session discusses a methodology that expands the allocation method using geographically weighted regression to allow for the quantification of spatially varying effects that contribute to the value of land. The results of this analysis provide for greater accuracy and uniformity in deriving an overall value of a property.
