SlideShare a Scribd company logo
1 of 24
Improving Property Valuation Through Geospatial Analysis  Of Comparison Neighborhoods
What are we going to talk about? ,[object Object]
What is a Comparison Neighborhood?
Neighborhood Research
Future Research Ideas,[object Object]
Office of the Jefferson CountyProperty Valuation Administrator Appraise ≈286,800 properties at fair market value for taxation purposes. Over 300 Square Miles Total Value:  $51,950,394,385
LOJIC and GIS Louisville-Jefferson County Information Consortium Members: Metropolitan Sewer District Louisville Metro Government Louisville Water Company Jefferson County PVA
GIS/CAMA Integration Change Spatial Attributes in Map Environment Review Updated Data Send Spatial Changes to CAMA through API Valuation CAMA Data Updated by Staff Valuation CAMA Data Sent to LOJIC
Internal Benefits Visualize Tabular Data with Spatial Context View Spatial Trends in Value Identify Spatial Outliers Fewer Dataset to Maintain Increased Knowledge = Increased Productivity
External Benefits Informative Website Revenue for Office Transparency
PVA Comparison Neighborhood Homogenous Groups of Real Property Common Land Use Similar Building Type and Age Analogous Access and Location Comparable Socioeconomic and Governmental Characteristics
Utilization of PVA Neighborhoods CAMA Report Neighborhood Maps Trends in: Sales Values Foreclosures
CAMA Neighborhood Report
Neighborhood Maps
Visualization of Assessments and Sales
Focusing Valuation Efforts Low Sales Ratios Highly Dispersed Sales Ratios W/I Neigh’s Conference Parcels Rate of Sales W/I Neigh’s
Appealed Parcels
Map of Sales
Rate of Sales
Standard Deviationof Sales Ratio
Foreclosure Research Clusters/Density Investor Owned Impact on Sales
Predicting Land Values
ArcGIS Server
Summary/Review Presentation PVA Comparison Neighborhood Importance of Neighborhoods Integration Leads to Improvement Future Research

More Related Content

Viewers also liked

Viewers also liked (13)

1b mugg mass valuation-processes-v2
1b mugg mass valuation-processes-v21b mugg mass valuation-processes-v2
1b mugg mass valuation-processes-v2
 
Mass Appraisal Guidebook
Mass Appraisal GuidebookMass Appraisal Guidebook
Mass Appraisal Guidebook
 
Mobile mapping
Mobile mappingMobile mapping
Mobile mapping
 
Comparison of Mobile GIS applications
Comparison of Mobile GIS applicationsComparison of Mobile GIS applications
Comparison of Mobile GIS applications
 
Successful Cost Sharing of Aerial Imagery through Other Government Agencies
Successful Cost Sharing of Aerial Imagery through Other Government AgenciesSuccessful Cost Sharing of Aerial Imagery through Other Government Agencies
Successful Cost Sharing of Aerial Imagery through Other Government Agencies
 
StartPad Countdown 5 - Google Geo: Mobile Mapping
StartPad Countdown 5 - Google Geo: Mobile MappingStartPad Countdown 5 - Google Geo: Mobile Mapping
StartPad Countdown 5 - Google Geo: Mobile Mapping
 
Building responsive web mobile mapping applications
Building responsive web mobile mapping applicationsBuilding responsive web mobile mapping applications
Building responsive web mobile mapping applications
 
Field Data Collecting, Processing and Sharing: Using web Service Technologies
Field Data Collecting, Processing and Sharing: Using web Service TechnologiesField Data Collecting, Processing and Sharing: Using web Service Technologies
Field Data Collecting, Processing and Sharing: Using web Service Technologies
 
Mobile gis
Mobile gisMobile gis
Mobile gis
 
IP Valuation
IP ValuationIP Valuation
IP Valuation
 
Introduction to GIS
Introduction to GISIntroduction to GIS
Introduction to GIS
 
GIS presentation
GIS presentationGIS presentation
GIS presentation
 
Mobile mapping system
Mobile mapping systemMobile mapping system
Mobile mapping system
 

Similar to Improving Property Valuation Through Geospatial Analysis of Comparison Neighborhoods

Similar to Improving Property Valuation Through Geospatial Analysis of Comparison Neighborhoods (10)

State of Ohio: Partnerships and Initiatives
State of Ohio: Partnerships and InitiativesState of Ohio: Partnerships and Initiatives
State of Ohio: Partnerships and Initiatives
 
Common Ground, Local Assets: Collecting and Coordinating for a Regional Scope
Common Ground, Local Assets: Collecting and Coordinating for a Regional ScopeCommon Ground, Local Assets: Collecting and Coordinating for a Regional Scope
Common Ground, Local Assets: Collecting and Coordinating for a Regional Scope
 
Utah Reorganizes its GIS Around Web Services
Utah Reorganizes its GIS Around Web ServicesUtah Reorganizes its GIS Around Web Services
Utah Reorganizes its GIS Around Web Services
 
GIS in Utah
GIS in UtahGIS in Utah
GIS in Utah
 
Wisconsin SCO Virtual Data Integration
Wisconsin SCO Virtual Data IntegrationWisconsin SCO Virtual Data Integration
Wisconsin SCO Virtual Data Integration
 
Info Grafix
Info GrafixInfo Grafix
Info Grafix
 
Ccawv 2011 a
Ccawv 2011 aCcawv 2011 a
Ccawv 2011 a
 
DC Web API Meetup Oct 4 2016
DC Web API Meetup Oct 4 2016DC Web API Meetup Oct 4 2016
DC Web API Meetup Oct 4 2016
 
GIS Expo 2014: Hawaii Statewide GIS Program
GIS Expo 2014: Hawaii Statewide GIS ProgramGIS Expo 2014: Hawaii Statewide GIS Program
GIS Expo 2014: Hawaii Statewide GIS Program
 
Department Of Field And Data Management
Department Of Field And Data ManagementDepartment Of Field And Data Management
Department Of Field And Data Management
 

Recently uploaded

9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
delhimodel235
 
Call Girls In Seelampur Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
Call Girls In Seelampur  Delhi ↬8447779280}Seelampur Escorts Service In Delhi...Call Girls In Seelampur  Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
Call Girls In Seelampur Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
asmaqueen5
 
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
delhi24hrs1
 
MEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
MEQ Mainstreet Equity Corp Q2 2024 Investor PresentationMEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
MEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
MEQ - Mainstreet Equity Corp.
 
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
delhimodel235
 
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
ApartmentWala1
 
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goaGoa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
Nitya salvi
 
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
delhimodel235
 
9990771857 Call Girls Dwarka Sector 8 Delhi (Call Girls ) Delhi
9990771857 Call Girls  Dwarka Sector 8 Delhi (Call Girls ) Delhi9990771857 Call Girls  Dwarka Sector 8 Delhi (Call Girls ) Delhi
9990771857 Call Girls Dwarka Sector 8 Delhi (Call Girls ) Delhi
delhimodel235
 

Recently uploaded (20)

Rohan Harita Tathawade Pune Brochure.pdf
Rohan Harita Tathawade Pune Brochure.pdfRohan Harita Tathawade Pune Brochure.pdf
Rohan Harita Tathawade Pune Brochure.pdf
 
9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 6 Delhi (Call Girls) Delhi
 
Call Girls In Seelampur Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
Call Girls In Seelampur  Delhi ↬8447779280}Seelampur Escorts Service In Delhi...Call Girls In Seelampur  Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
Call Girls In Seelampur Delhi ↬8447779280}Seelampur Escorts Service In Delhi...
 
Nyati Elite NIBM Road Pune E Brochure.pdf
Nyati Elite NIBM Road Pune E Brochure.pdfNyati Elite NIBM Road Pune E Brochure.pdf
Nyati Elite NIBM Road Pune E Brochure.pdf
 
Vanam At Purva Soukhyam Guduvanchery.pdf.pdf
Vanam At Purva Soukhyam Guduvanchery.pdf.pdfVanam At Purva Soukhyam Guduvanchery.pdf.pdf
Vanam At Purva Soukhyam Guduvanchery.pdf.pdf
 
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
Cheap Rate ✨➥9711108085▻✨Call Girls In Amar Colony (Delhi)
 
Yedi Mavi TOBB Zeytinburnu - Listing Turkey
Yedi Mavi TOBB Zeytinburnu - Listing TurkeyYedi Mavi TOBB Zeytinburnu - Listing Turkey
Yedi Mavi TOBB Zeytinburnu - Listing Turkey
 
Eldeco Dwarka Project In Delhi-brochure.pdf.pdf
Eldeco Dwarka Project In Delhi-brochure.pdf.pdfEldeco Dwarka Project In Delhi-brochure.pdf.pdf
Eldeco Dwarka Project In Delhi-brochure.pdf.pdf
 
Mapusa Beach ( Call Girls ) Goa ✔ 8617370543 ✅ By Goa Call Girls For Pick Up ...
Mapusa Beach ( Call Girls ) Goa ✔ 8617370543 ✅ By Goa Call Girls For Pick Up ...Mapusa Beach ( Call Girls ) Goa ✔ 8617370543 ✅ By Goa Call Girls For Pick Up ...
Mapusa Beach ( Call Girls ) Goa ✔ 8617370543 ✅ By Goa Call Girls For Pick Up ...
 
Bridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdfBridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdf
 
MEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
MEQ Mainstreet Equity Corp Q2 2024 Investor PresentationMEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
MEQ Mainstreet Equity Corp Q2 2024 Investor Presentation
 
BDSM⚡Call Girls in Sector 57 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 57 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 57 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 57 Noida Escorts >༒8448380779 Escort Service
 
2k Shot Call girls Karol Bagh Delhi 9205541914
2k Shot Call girls Karol Bagh Delhi 92055419142k Shot Call girls Karol Bagh Delhi 9205541914
2k Shot Call girls Karol Bagh Delhi 9205541914
 
Mahindra Happinest Tathawade Pune Brochure.pdf
Mahindra Happinest Tathawade Pune Brochure.pdfMahindra Happinest Tathawade Pune Brochure.pdf
Mahindra Happinest Tathawade Pune Brochure.pdf
 
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 3 Delhi (Call Girls) Delhi
 
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
BPTP THE AMAARIO Luxury Project Invest Like Royalty in Sector 37D Gurgaon Dwa...
 
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goaGoa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
Goa Call Girls 8617370543 Call Girls In Goa By Russian Call Girl in goa
 
Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024
 
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
9990771857 Call Girls in Dwarka Sector 10 Delhi (Call Girls) Delhi
 
9990771857 Call Girls Dwarka Sector 8 Delhi (Call Girls ) Delhi
9990771857 Call Girls  Dwarka Sector 8 Delhi (Call Girls ) Delhi9990771857 Call Girls  Dwarka Sector 8 Delhi (Call Girls ) Delhi
9990771857 Call Girls Dwarka Sector 8 Delhi (Call Girls ) Delhi
 

Improving Property Valuation Through Geospatial Analysis of Comparison Neighborhoods

Editor's Notes

  1. The PVA is part of a local GIS consortium called LOJIC:Store and Serve Geographic DataServe Desktop GIS through CitrixProvide GIS GuidanceHelp Research New TechnologiesProvide Online Interactive Maps for Public
  2. How our GIS and CAMA interact begins withChange Spatial Attributes in Map EnvironmentReview Updated DataSend Spatial Changes to CAMA through APIValuation CAMA Data Updated by StaffValuation DataContaining:House Size, Type, AgeLand AreaImprovement/Land/Total ValuePVA NeighborhoodsSent Once per Week to LOJIC
  3. So why is GIS/CAMA Integration Important to our office?It allows us to visualize Tabular Data with Spatial ContextTo View Spatial Trends in Value and AssessmentIdentify spatial outliers that are not seen in a tabular reportWith fewer datasets to maintain, we can focus on other ways to improve our assessments and analysesWith Increased Knowledge comes opportunity for Increased Productivity
  4. Outside of our office, GIS/CAMA integration allows us toprovide data online to the publicBring in revenue from full access subscriptionsProvide homeowner with assessment data creating transparency in governmentHere is an example of our website and the extensive assessment data provided
  5. So, what is a PVA Comparison Neighborhood?Homogenous Groups of Real Property CAMA uses to appraise properties similar to ones that have sold.Common Land UseSimilar Building Type and AgeAnalogous Access and LocationComparable Socioeconomic and Governmental CharacteristicsFor the purposes of this presentation, I will simply refer to these PVA Comparison Neighborhoods as, Neighborhoods… not to be confused with subdivisions, or historic neighborhoods.
  6. How do we make use of these neighborhoods?Initially, neighborhoods were only used by our CAMA to give important summary statistics to our research staff.Now, with our GIS and CAMA integrated, we canCreate Neighborhood MapsVisualizing Spatial Trends in Sales, Values, Foreclosures, and more.
  7. This is a CAMA Neighborhood Report, very informative, butNo spatial information is seen.But when tied with GIS [CLICK]
  8. Our research staff can easily pinpoint any properties in question on the CAMA Report.Identify outliers that may need to be associated with a different neighborhood.
  9. We can create maps that show[CLICK]:Sales within a Neighborhood[CLICK] Or even see what proposed assessments will look like.If there areas with high volumes of sales, it may be pertinent to reassess a neighborhood if sales show a large increase in value.
  10. By studying and analyzing these neighborhoods, we can focus our efforts onAreas with low sales ratiosNeighborhoods with highly variable sales ratiosRegions with high rates of appealsOr neighborhoods with many recent sales
  11. Here we can see locations of properties that owners had conferences on.It seems that there are clusters of these properties in the West End,But when we use the neighborhoods to show Percent Parcels Appealed [CLICK],we can see that areas of actual interest are in the northeast part of the county.
  12. And when researching Sales,we can create maps that display total sales per neighborhood.This could lead us to areas where we may be able to reassess given enough sales information.
  13. Or we can explore the rate of sales per neighborhood.This too could be an indicator of areas that can be immediately reassessed.
  14. Calculating the standard deviation of sales ratios can show us which neighborhoods have high variability.This lets us know that sales are either rapidly going up or down or that the neighborhood is not homogeneous.
  15. Ongoing and Future Research include Of course, Improving on Current Methods, but alsoQuantifying the effects that investor foreclosures have on sale prices, and, ultimately, our assessment.
  16. We have already used GIS to predict land values within our central business district. Using this process in neighborhoods with enough data, could also be a future option.
  17. One endeavor that we are currently implementing is empowering our research staff with the ability to go beyond paper maps by using ArcGIS Server.This allows them to:Interact with spatial dataCreate “What-If” scenariosAnd even Edit CAMA data from a spatial environment.
  18. We’ve discussed what a neighborhood is,The importance of creating and maintaining neighborhoods,How integration of CAMA and GIS allow us to research their spatial characteristics and ensure an accurate assessment,And future research opportunities available due to our CAMA/GIS integrationI hope that we can continue to use GIS as a way to excel at improving and validating our assessments. As we all may know, maintaining a cadastre is important, but visualizing where values are and why, is essential.
  19. Any Questions?