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

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Aug 31st, 10:30 AM Aug 31st, 11:30 AM

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.