Start Date
5-4-2018 1:15 PM
End Date
5-4-2018 2:15 PM
Description
Lithuania’s and Slovenia's Practice of Mass Valuation and the multipurpose use of its results corresponds to the recommendation of the International Guidance. Mass valuation allows estimating market values that are cheap to calculate and if accurate enough they can be used for many purposes. The multipurpose real property mass valuation system, which is implemented in both countries, plays an important role by providing adequate tax platform and the use of mass valuation results for other public needs. The analysis of some years of experience shows that the appearance of mass valuation system which was originally associated only with the real property tax reform, stimulates the interest of the society, businesses, public and municipal institutions in values estimated by mass valuation technique, contributing to the market transparency and awareness of the spatial value. Mass valuation allows estimating market values that are cheap to calculate and if accurate enough they can be used for many purposes. The use of mass valuation results for different public needs stimulates the interest of the society in values estimated by mass valuation technique, contributing to the market transparency and awareness of the spatial value.
Publication Date
April 2018
Recommended Citation
Žibrik, Neva, "Multipurpose benefits of mass valuation system" (2018). International Research Symposium. 9.
https://researchexchange.iaao.org/irs/irs18/sessions/9
Multipurpose benefits of mass valuation system
Lithuania’s and Slovenia's Practice of Mass Valuation and the multipurpose use of its results corresponds to the recommendation of the International Guidance. Mass valuation allows estimating market values that are cheap to calculate and if accurate enough they can be used for many purposes. The multipurpose real property mass valuation system, which is implemented in both countries, plays an important role by providing adequate tax platform and the use of mass valuation results for other public needs. The analysis of some years of experience shows that the appearance of mass valuation system which was originally associated only with the real property tax reform, stimulates the interest of the society, businesses, public and municipal institutions in values estimated by mass valuation technique, contributing to the market transparency and awareness of the spatial value. Mass valuation allows estimating market values that are cheap to calculate and if accurate enough they can be used for many purposes. The use of mass valuation results for different public needs stimulates the interest of the society in values estimated by mass valuation technique, contributing to the market transparency and awareness of the spatial value.