Start Date
26-6-2024 1:00 PM
End Date
26-6-2024 2:45 PM
Description
This presentation will engage the audiences in a discussion about why and how to measurethe quality of Mass Appraisal quantitatively. Across Canada, jurisdictions rely on indicators such as the Median Assessment to Sales Ratio (Med ASR) and the Coefficient of Dispersion (COD) to assess the quality of property valuations. In some regions, additional metrics like the Price Related Differential (PRD) and the Price Related Bias (PRB) are employed to address equity concerns in assessments. In the Province of Alberta, a comprehensive approach is adopted, considering all of these indices to evaluate the quality of property assessments. Furthermore, the province has introduced a new web-based system that quantifies the quality of property assessments of each municipality and generates results in the form of percentages.
Recommended Citation
Zheng, Ning, "Quantifying the quality of mass appraisal" (2024). Mass Appraisal Valuation Symposium. 10.
https://researchexchange.iaao.org/mavs/mavs2024/sessions/10
Quantifying the quality of mass appraisal
This presentation will engage the audiences in a discussion about why and how to measurethe quality of Mass Appraisal quantitatively. Across Canada, jurisdictions rely on indicators such as the Median Assessment to Sales Ratio (Med ASR) and the Coefficient of Dispersion (COD) to assess the quality of property valuations. In some regions, additional metrics like the Price Related Differential (PRD) and the Price Related Bias (PRB) are employed to address equity concerns in assessments. In the Province of Alberta, a comprehensive approach is adopted, considering all of these indices to evaluate the quality of property assessments. Furthermore, the province has introduced a new web-based system that quantifies the quality of property assessments of each municipality and generates results in the form of percentages.
