Data Quality Management for Equitable Mass Appraisal during Turbulent Times in Hong Kong
Description
Data quality management is crucial to the accuracy and consistency of mass appraisal that is employed by the Rating and Valuation Department (RVD) in Hong Kong to effectively and efficiently conduct annual revaluations of over 2.6 million assessments for property tax purposes. During the turbulent years amidst the COVID-19 pandemic, the sudden, drastic and frequent changes to the property market and operational environment presented significant challenges to assessing equitable and up-to-date market rental values during annual revaluations. This presentation highlights the data management strategies adopted by RVD to overcome these challenges during the turbulent times, as well as the various data management measures of collecting, verifying, analysing and applying the relevant data for ensuring data quality and fair and equitable assessments throughout the revaluation processes.Data quality management is crucial to the accuracy and consistency of mass appraisal that is employed by the Rating and Valuation Department (RVD) in Hong Kong to effectively and efficiently conduct annual revaluations of over 2.6 million assessments for property tax purposes. During the turbulent years amidst the COVID-19 pandemic, the sudden, drastic and frequent changes to the property market and operational environment presented significant challenges to assessing equitable and up-to-date market rental values during annual revaluations. This presentation highlights the data management strategies adopted by RVD to overcome these challenges during the turbulent times, as well as the various data management measures of collecting, verifying, analysing and applying the relevant data for ensuring data quality and fair and equitable assessments throughout the revaluation processes.
Data Quality Management for Equitable Mass Appraisal during Turbulent Times in Hong Kong
Data quality management is crucial to the accuracy and consistency of mass appraisal that is employed by the Rating and Valuation Department (RVD) in Hong Kong to effectively and efficiently conduct annual revaluations of over 2.6 million assessments for property tax purposes. During the turbulent years amidst the COVID-19 pandemic, the sudden, drastic and frequent changes to the property market and operational environment presented significant challenges to assessing equitable and up-to-date market rental values during annual revaluations. This presentation highlights the data management strategies adopted by RVD to overcome these challenges during the turbulent times, as well as the various data management measures of collecting, verifying, analysing and applying the relevant data for ensuring data quality and fair and equitable assessments throughout the revaluation processes.Data quality management is crucial to the accuracy and consistency of mass appraisal that is employed by the Rating and Valuation Department (RVD) in Hong Kong to effectively and efficiently conduct annual revaluations of over 2.6 million assessments for property tax purposes. During the turbulent years amidst the COVID-19 pandemic, the sudden, drastic and frequent changes to the property market and operational environment presented significant challenges to assessing equitable and up-to-date market rental values during annual revaluations. This presentation highlights the data management strategies adopted by RVD to overcome these challenges during the turbulent times, as well as the various data management measures of collecting, verifying, analysing and applying the relevant data for ensuring data quality and fair and equitable assessments throughout the revaluation processes.
