Developing an LADM Valuation Information Model for Mongolia

Munkhbaatar Buuveibaatar, Kangjae Lee and Wonhee Lee ()
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Munkhbaatar Buuveibaatar: Research Institute of Artificial Intelligent Diagnosis Technology for Multi-Scale Organic and Inorganic Structure, Kyungpook National University, Sangju 37224, Republic of Korea
Kangjae Lee: Department of Location-Based Information System, Kyungpook National University, Sangju 37224, Republic of Korea
Wonhee Lee: Department of Location-Based Information System, Kyungpook National University, Sangju 37224, Republic of Korea

Land, 2023, vol. 12, issue 4, 1-21

Abstract: Modern land/property valuation practice requires three-dimensional (3D) valuation, which is crucial to better valuate and assess values of property units. However, conventional land/property valuation systems primarily exist in 2D form, which hinders the accurate valuation of buildings, condominiums and land. The present study introduces the first step toward establishing an advanced land/property valuation system in Mongolia, where it is urgent to meet such requirements. We examined relevant Mongolian geospatial standards and documents, those related to land valuation (i.e., cadastral parcels and buildings), and a valuation information model, which is based on the ISO 19152:2012 Land Administration Domain Model (LADM), with the aim of developing an LADM Valuation Information Model country profile for Mongolia. After the in-depth analysis of the data model of both the LADM Valuation Information Model and the national geospatial relevant standards, we proposed the LADM Valuation Information Model country profile as a conceptual model. Our study results demonstrate how the LADM Valuation Information Model can be adapted to the Mongolian land administration system. Our findings can be used to serve a reference data model to construct 3D land/property valuation systems for efficient valuation of land (e.g., mass appraisal) and taxation purposes.

Keywords: Land Administration Domain Model (LADM); ISO 19152; LADM Valuation Information Model; immovable property valuation; Mongolian LADM Valuation Model country profile (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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