IDEAS home Printed from https://ideas.repec.org/a/taf/jpropr/v20y2003i4p305-318.html
   My bibliography  Save this article

Does assessed value influence market value judgments?

Author

Listed:
  • Matthew Cypher
  • J. Andrew Hansz

Abstract

Assessed values are widely reported in US property markets and are often used by the public as a proxy for a property's value. The results of this study indicated that an assessed value treatment did influence market value judgments by nonappraisers. However, despite the nonappraiser findings and the strong anchoring tendencies found in prior studies, expert US appraisers did not depart from normative theory and training and did not exhibit anchoring behaviours on an assessed value reference point. These results seem to indicate that expert appraisers need some content validity before using a reference point as a valuation anchor and make distinctions among unsanctioned anchors that are plausibly informative (such as a pending sale price or expert valuation opinion of another) and unsanctioned anchors that are fundamentally inappropriate. Although the usual caveats of clinical studies apply, this present study extends understanding of reference point usage on valuation judgment.

Suggested Citation

  • Matthew Cypher & J. Andrew Hansz, 2003. "Does assessed value influence market value judgments?," Journal of Property Research, Taylor & Francis Journals, vol. 20(4), pages 305-318, December.
    • Handle: RePEc:taf:jpropr:v:20:y:2003:i:4:p:305-318
    DOI: 10.1080/0959991042000182001
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/0959991042000182001
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/0959991042000182001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. J. Andrew Hansz, 2005. "Prior transaction price induced smoothing: testing and calibrating the Quan--Quigley model at the disaggregate level," Journal of Property Research, Taylor & Francis Journals, vol. 21(4), pages 321-336, April.
    2. Geoffrey Propheter, 2021. "Sports facilities and the local property tax base in recovery," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(5), pages 1687-1701, October.
    3. Deborah S. Levy & Catherine Frethey‐Bentham, 2010. "The effect of context and the level of decision maker training on the perception of a property's probable sale price," Journal of Property Research, Taylor & Francis Journals, vol. 27(3), pages 247-267, July.
    4. Louis Lategan & Juaneé Cilliers & Zinea Huston & Nadia Blaauw & Sarel Cilliers, 2021. "Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value," Urban Planning, Cogitatio Press, vol. 6(4), pages 54-66.
    5. Rennert, Lindiwe, 2022. "A meta-analysis of the impact of rail stations on property values: Applying a transit planning lens," Transportation Research Part A: Policy and Practice, Elsevier, vol. 163(C), pages 165-180.
    6. Patrick Krieger & Carsten Lausberg, 2021. "Entscheidungen, Entscheidungsfindung und Entscheidungsunterstützung in der Immobilienwirtschaft: Eine systematische Literaturübersicht [Decisions, decision-making and decisions support systems in r," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 7(1), pages 1-33, April.
    7. Deborah Levy & Zhi Dong & James Young, 2016. "Unintended consequences: the use of property tax valuations as guide prices in Wellington, New Zealand," Housing Studies, Taylor & Francis Journals, vol. 31(5), pages 578-597, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jpropr:v:20:y:2003:i:4:p:305-318. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RJPR20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.