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- Title
Multiple Regression Analysis as Applied to the Equilization Process: Case Study.
- Authors
Clettenberg, Karel J.
- Abstract
One area in which statistical techniques could be applied to real property valuation is the state equalization procedure, that is, the process of determining the aggregate value of real property within each of a state's governmental units. This article reviews briefly some of the problems caused by equalizations that lag behind market values and presents the results of a study in which multiple regression analysis was used to estimate the aggregate market values of a group of properties. Building permits issued by local building inspectors as well as income tax records of buyers and sellers are used to determine real estate values. Costs of larger governmental units, such as counties are often allocated to their internal subdivisions on the basis of equalized values. If equalized values lag behind aggregate market values, a local unit of government might find it difficult to borrow money for needed services. Development costs could be minimized by using standard multiple regression programs available from most computer manufacturers.
- Subjects
VALUATION of real property; MARKET value; STATISTICS; REAL property; REAL property tax; FINANCE; COST control; SUBSIDIES; INCOME tax; REAL estate business; REGRESSION analysis
- Publication
Land Economics, 1972, Vol 48, Issue 1, p90
- ISSN
0023-7639
- Publication type
Report
- DOI
10.2307/3145649