Assessment Error in the Valuation of Owner-Occupied Housing
Assessed values of owner-occupied housing have been analyzed in this study to determine whether there is systematic error in the property valuation process by assessors. Sources of systematic error are identified for three countries in the Puget Sound area of Washington State. A method is developed to correct assessed values for systematic error to provide better estimates of market values. The results of the study may be useful for using assessed values as predictors of market values.
Volume (Year): 13 (1997)
Issue (Month): 1 ()
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References listed on IDEAS
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- Brian J. L. Berry & Robert S. Bednarz, 1975. "A Hedonic Model of Prices and Assessments for Single-Family Homes: Does the Assessor Follow the Market or the Market Follow the Assessor?," Land Economics, University of Wisconsin Press, vol. 51(1), pages 21-40.
- Joseph G. Kowalski & Peter F. Colwell, 1986. "Market Versus Assessed Values of Industrial Land," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 361-373.
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