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Improvement of the Market Comparison Approach Based on Property Tax Levy Purpose

In: Liss 2014

Author

Listed:
  • Yipeng Ren

    (Beijing Jiaotong University)

  • Aibo Hao

    (Beijing Jiaotong University)

  • Jingjuan Guo

    (Beijing Jiaotong University)

Abstract

China is exploring property tax reform, scientific and rational assessment of the value of property is an important work. Due to lack of basic data, limitation of local government revenue and lack of high educated appraisers, the market comparison approach is still a basic assessment method in China. Part of adjustment coefficients in current market comparison approach are freely determined by appraisers, which cannot accept by taxpayers. In this paper, considering of China’s reality, with the idea of the hedonic price method to subdivide the factors affecting adjustment coefficients. Adjustment coefficients are accurately determined after using clustering analysis to make taxable property reasonable partition, and then determine the property value. Ultimately, a case study in Jincheng Shanxi Province shows the accuracy of the assessment is improved.

Suggested Citation

  • Yipeng Ren & Aibo Hao & Jingjuan Guo, 2015. "Improvement of the Market Comparison Approach Based on Property Tax Levy Purpose," Springer Books, in: Zhenji Zhang & Zuojun Max Shen & Juliang Zhang & Runtong Zhang (ed.), Liss 2014, edition 127, pages 1099-1104, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-43871-8_158
    DOI: 10.1007/978-3-662-43871-8_158
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