A matching method for land valuation

Jeffrey Zabel

Journal of Housing Economics, 2022, vol. 58, issue PA

Abstract: One approach to land valuation, particularly used by accessors, is to base price estimates of target properties on comparable properties that recently sold. These properties are chosen to be close matches of the target unit and their transaction prices are used to predict the market price of the target unit. But the choice of comparables is typically not consistent and transparent. In this study, a systematic analytical procedure for choosing comparables that is easy to implement is developed. A hedonic regression using these comparables is then run and the predicted value of the target unit is the assessed value. One of the advantages of this procedure is that it should be straightforward for assessors and public finance officials to use and understand and easy to explain to residents.

Keywords: Land valuation; Hedonic house price model; Comparables (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:58:y:2022:i:pa:s105113772200050x

DOI: 10.1016/j.jhe.2022.101878

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