Journal of Property Tax Assessment & Administration


This paper presents a methodology for estimating the market value of properties when data are limited. Thus, it has important implications for many developing countries that would benefit from increased property tax revenues. Lack of data on sale prices and an appropriate valuation method are two reasons that property tax revenues are so low in many countries. The methodology in this paper is intended to overcome these short­comings. This paper describes a comprehensive framework for applying a simple, admin­istratively compliant, and cost-effective solution to location-wise property valuation. For that, a spatially based, weighted parametric model for the individual property level is developed using the physical, spatial, environmental, and market factors that are most influential in value determination.

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Property tax administration