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201 Cards in this Set
- Front
- Back
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Chapter 1 |
The Ad Valorem Tax System |
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Two fundamental principles upon which the rational for taxation of real property rests |
The principle of benefits received and the principle of ability to pay |
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Principle of benefits received |
A tax levied on the owners of real property is justified because of the benefits which accrue to properties due to the actions of local governments. I.E Roads, sidewalks, sewer, water, fire protection. |
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Principle of ability to pay |
Under an ad valorem property taxation system, the value of one's real property is used as a proxy for one's ability to pay. The property tax is therefore a tax on wealth, where wealth is estimated by the value of one's property. |
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Principle of Accountability |
Tax burdens should not be exported |
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Regressive Tax |
A tax that takes a larger percentage from low-income people than from high-income people. A regressive tax is generally a tax that is applied uniformly. This means that it hits lower-income individuals harder. |
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Progressive Tax |
takes a larger percentage from the income of high-income earners than it does from low-income individuals |
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Proportional Taxes |
A tax system that requires the same percentage of income from all taxpayers, regardless of their earnings. A proportional tax applies the same tax rate across low-, middle- and high-income taxpayers |
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There are two points of view regarding regressiveness and progressivness of property tax |
the old view and the new view |
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Old View |
Maintains that everyone shifts taxes to consumers. Eg, the landlord shifts tax to the tenants. Manufacturer increases price of products to offset tax, etc.
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The old view divides the property tax into two components |
The tax on land and the tax on improvements |
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OLD VIEW: Tax on Land |
Land is assumed to be fixed in supply. Thus, the portion of the property tax that falls on land must be borne by landowners because they cannot shift the burden to others by altering the quantity of land supplied.
The supply of structures, on the other hand, can be altered through investment decisions. The portion of the property tax that falls on structures can be shifted forward to the consumers |
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Criticism of the Old View |
Begins by questions the assumption of a fixed supply of land. The supply of land can be increased by changes in municipal borders, zoning, land use controls, etc. |
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The New View |
Is basically a change in the perspective from which the incidence of property taxation is viewed. The old view deals with the tax in a particular locality while the new view focuses on the country as a whole. The new view assumes that assessments are correct and up-to-date and that the property tax is imposed at a uniform rate, across the country, on all forms of property. |
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Components of an Ideal Property Tax System |
- Administration - Accountability - Neutrality - Fairness - Stable Tax Base |
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Administration |
Should be simple and efficient. it should raise revenue in a cost effective manner and be easily understood by taxpayers |
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Accountability |
Accountability implies tax policies should be clear and hidden taxes avoided. There should be a direct relationship between locally raised taxes and local expenditures. There Is less tendency to over supply services when those receiving the benefits must pay for them. |
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Neutrality |
A neutral tax is non-distorting; landowners are not inclined to behave in a certain way to avoid the tax. In other words, after the imposition of the tax, there should be no change in the way property owners use their property. |
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Fairness |
Implies horizontal and vertical equity. Horizontal equity requires the equal treatment of equals. That is, all properties of identical taxable value should be taxed in the same way.
Vertical equity requires the unequal treatment of unequals; properties of greater taxable value should face higher taxes. |
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Stable Tax Base |
The property tax should provide stable levels of tax revenue, since the services provided by the local governments remain relatively constant regardless of the level of local economic activity. Local governments should also be able to reasonably forecast the level of property taxes attainable from year to year |
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Alternative Methods of Property Taxation and Assessment |
- Site or Land Value Taxation - Poll Tax - California: Proposition 13 - Nova Scotia: Cap Assessment Program (CAP) |
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Site or Land Value Taxation |
taxation falls solely on land values while exempting taxation on all capital improvements. Land is taxed whether it is vacant or improved. Thus, under pure land value taxation, two identical pieces of property would be taxed as having the same value, even if one property contained a building while the other was vacant.
Proponents of Land Value Taxation base their support on the allocative efficiency of the tax. they argue that taxation of land only will promote development, redevelopment, and lead to the highest and best use of this scarce commodity. There are two components to the arguments of allocative efficiency: the liquidity effect and the incentive effect.
There is also "Graded" taxation. Where land is taxed more heavily than the improvements which rest on it. |
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Site or Land Value Taxation (Continued)
The Liquidity Effect has two consequences |
First, under land value taxation, landowners are encouraged to develop or sell their land because the land tax increases their holding costs. Assuming a fixed supply, the tax cannot be shifted by increases or decreases in the supply of land. Faced with increased costs of holding land, owners are encouraged to develop.
Second, the current market value of land (V) is its rent (E) divided by a discount rate (R), thus V = E / R. The land tax increases the discount rate (R), decreasing the value of land. In other words, the tax is capitalized into the value of the land. Both of these tax effects cause land to be more saleable or liquid - the liquidity effect. |
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Site or Land Value Taxation (Continued)
Problems Associated |
Include the difficulty of determining land values separate from total values. This task is more difficult where there are few vacant land sales.
Site value taxation leads to more intensive uses and faster (sometimes premature) development which may be inadequate in the future.
If the tax on land is not substantial enough to create an incentive to develop, other development factors, such as availability of financing, will overshadow the incentive to develop created by site value taxation
finally, low density uses, which may be socially desirable, are discouraged under site value taxation. |
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Poll Tax |
Is a fixed annual charge levied on individuals living in a local area as a contribution to the cost of providing local services. A poll tax is not based on income, wealth of consumption; it is simply a charge levied on all adults.
It is criticized because it is a regressive tax, representing a larger portion of expenditures for the lower income than the higher income. In addition, there are significant problems associated with evasion and enforcement. |
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Proposition 13 Several Important Features |
-All property values were rolled back to their 1975 level - Stipulated that properties are re-appraised at is full market value when sold. - The values of properties not sold during the year are adjusted for inflation. (max 2%) - All property newly built is valued at market value once construction is finished. - Ownership transfers between husbands and wives, and parents and children (with limitations) were made exemp from the change in ownership regulation. - New log term leases were regarded as changes in ownership for the purposes of reassessment. - In the case of legal entities, such as corporations and partnerships, a reappraisal would be done if there was a change in control. Stock acquisition, mergers or changes in partners could all constitute change in control, requiring reappraisal. |
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Why was prop 13 implemented? |
In reaction to the significant increases in property tax burdens within taxation jurisdictions as a result of dramatic price increases in market value coupled with a legislative fixed tax rate. |
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Flaws with Prop 13 |
The inequitable treatment of equal properties. A property that is sold will be reassessed at its current market value. On the other hand, a property with the same current market value will be based on its 1975 value, plus a maximum increase of 2% per year.
It favors those with stable dwelling requirements while it discriminates against growing families and homeowners who have to move for any reason. In addition, it creates an incentive to conduct property transations so that reported sales prices appear lower. Thus, appraisal, valuation, appeal and admin functions have become more complex with the adoption of prop. 13. |
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Nova Scotia: Cap Assessment Program (CAP) |
Designed to help protect property owners from the tax effects of sudden and dramatic assessment increases in the market value of their property. By capping market value increases, the program limits the amount of assessment the municipalities can use to calculate the property taxes for Nova Scotia residents.
To be eligible: 1) Be at least 50% owned by a Nova Scotia Resident 2) Be classed as a taxable residential or taxable vacant resource property. 3) Have a market value increase that exceeds the CAP |
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Tax Shifts Can be Created in Two Ways |
1) Properties within one class of property change in value by different rates 2) Taxation authorities tax all property at a uniform rate and the different classes of property change value at different rates. |
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Tax Shifts Continued |
Due to the local nature of real property markets, one neighbourhood of residential property values may increase by a much greater amount than another neighbourhood. Under an ad valorem system of taxation, this would lead to a shift of the tax burden to those properties increasing in value by greater than the average increase. |
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Chapter 2 - Real Property Assessment |
Chap-ter-2 |
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Property Tax Levy |
The total amount of money to be raised from the property tax, as set forth in the budget for the local government or tax jurisdiction. This levy, whether higher or lower than the preceding year, is determined by the budget making authority of the local government. It is usually recommended by an administrator and adopted by the local legislative body. |
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The Nominal Tax Rate |
Simply a mathematical expression of the relationship between the tax levy and the total assessment for the jurisdiction: the levy amount is divided by the total assessment amount to give the nominal tax rate. For example, if a municipality needs to raise 15 million and the total assessment for the jurisdiction, is $937,500,000, the nominal tax rate is 1.6%.
15,000,000 / 937,500,000 |
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Mill Rate |
A tax rate expressed as mills per dollar. A mill is one-thousandth of one dollar (or one-tenth of one cent).
For example; a 2% tax rate is $2 per $100, $20 per $1000, or 20 mills per dollar. |
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Effective Tax Rate |
It is the proportion of tax dollars to full market value and may be calculated for all properties, a single parcel, or any group or stratum of properties. If variations exist in the levels of assessment for different classes of property, effective tax rates will also vary among the classes. The effective tax rate is the only way to compare the effect of the property tax across jurisdictions. To calculate the effective tax rate, divide the property tax by market value. For example, the effective tax rate of a property with a market value of $100,000 and a property tax of $1,200 is 1.2%. |
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Responsibilities related to assessment |
Supervision
handling of appeals
appraisal review
equalization - this refers to the process by which an agency with authority over two or more assessment districts makes adjustments to the total appraised values (assessments). It ensures that the total appraised values within the agency's jurisdiction all bear the same relationship to total market value and thus the taxing is equitable within its area of control. |
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The Primary Tasks Performed by Assessors working toward the completion of an assessment roll. |
- locating and identifying all taxable property in the jurisdiction - making an inventory of the quantity, quality, and important characteristics of all taxable property. - Estimating the value of each taxable property - Determining the extent of taxability of each property - Calculating the assessed value of each property - preparing and certifying the assessment roll of the entire jurisdiction - notifying owners of the assessed value of their properties - defending value estimates and valuation methods during appeals by taxpayers calculation of rates and tax bills. |
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Policy and Admin Features of an Effective Assessment System |
Legal Support Annual Reappraisal Periodic Ratio Studies (Assessed Vs Sale Prices) Adequate Budget Competent Staff Effective Training Programs Effective Internal Controls Complete Maps and Property Data Accurate Sales Data Modern Data Processing Effective Valuation Techniques Active Public Relations Transparency of the Assessment Roll Independent Appeal System |
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Provincial & Territorial Overview |
- Newfoundland - PEI - Nova Scotia - New Brunswick - Quebec - Ontario - Manitoba - Saskatchewan - Alberta - British Columbia - Northwest Territories - Yukon Territory - Nunavut Territory |
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Newfoundland |
- An independent crown owned corporation performs the assessments. - Property taxes are a discretionary municipal tax and there is no provincial component.
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PEI |
- Property taxes are imposed at both provincial and municipal levels. - Assessment is solely the responsibility of the provincial government where properties are differentiated as commercial and non-commercial. |
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Nova Scotia |
- In 2008, responsibility for assessment transferred from the Nova Scotia government to the Property Valuation Services Corporation. The PVSC is a municipality controlled, not for profit corporation. - NS has a Cap Assessment Program in place. The aim is to help protect property owners against the tax effects of sudden/dramatic assessment increases. - The program base year is 2001, and the cap for the subsequent years was 15% in 2002, 15% in 2003, and 10% each year from 2004 -2007. - All properties continue to be assessed at market value. The cap simply limits the amount of assessment increase that municipalities can levy in property taxes. |
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New Brunswick |
- Assessments are performed by the province. |
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Quebec |
- Assessments are a local responsibility with a three-year roll.
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Ontario |
- in 1998, the Government of Ontario transferred responsibility for property assessment from the Ministry of Finance to the Ontario Property Assessment Corporation. - Renamed in 2001 to the Municipal Property Assessment Corporation (MPAC)
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Manitoba |
- The provincial government is responsible for assessment in the province except for the City of Winnipeg.
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Saskatchewan |
- In most instances, the assessment function is performed by an independent provincial agency; however, the cities of Regina, Saskatoon, Prince Albert, and a number of smaller urban centres have their own assessment staff or utilize assessment contractors. |
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Alberta |
- Each municipality must annually prepare an assessment for each property in the municipality. An exception is linear property (pipeline, electrical generation and distribution, etc.) which is prepared annually by the province. |
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BC |
- Assessments are performed by an independent Crown Corporation - BC Assessment, and taxes are levied and collected by the province and local governments. - Tax rates vary by class of property
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Northwest Territories |
- The Northwest Territories Government is responsible for assessment through one central office and one sub-office, with the exception of the City of Yellowknife, which completes its own assessments. |
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Yukon Territory |
- property assessment is conducted by the Yukon Government. |
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Nunavut Territory |
The government of Nunavut is responsible for the assessment for all taxation areas. |
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CHAPTER 3 |
Law and the Assessor |
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Interpretation of Statutes |
Legislature does not always speak clearly and certainly not always in a manner understandable to the taxpayer. Thus, it is necessary to understand some rules which will assist in interpreting the laws. The courts have developed various approaches which they apply to assit them in the interpretation of statutes. They are the mischief approach and the literal approach. |
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Mischief Approach |
Suggests that one should look to the "mischief" of the difficult the legislation seeks to cure, and interpret the statute accordingly. In other words, more weight should be given to the intent of a statute rather than to what the specific words of a statute actually say. |
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Literal Approach |
Was seen by some as a reaction to "judicial legislation" under this rule, judges refused to go outside the words of the statute unless some doubt arose about the meaning of the words employed in the statute. In other words, the courts looked literally at the words of the statute and did not try to infer a meaning or intention beyond what was expressly said. |
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Some of the factors to be considered in interpreting statutes are: |
- the context of the legislation itself which included the words being interpreted as well as the balance between the statute and related statutes. - The grammatical and ordinary sense of the words, - the scheme of the Act or how the Act seeks to accomplish what it does, - the object of the Act or the situation it addresses, and - the intention of the legislature or what the legislature sought to address by the legislation. |
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Specific Interpretation Rules |
- Ejusdem Generis - Expressio Unius est Exclusio Alterius - Modern Absurdity Rule - Change in Language - Headings and References - Title and Preamble - Tautology is Avoided - Context
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- Ejusdem Generis
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When specific words are followed by more general words, the general words may be resitricted to the same class as the specific wods which precede them. For example, assume "Highway" was defined in the assessment legislation to include "...a street, road, lane, bridge, viaduct, and any other way open to use of the public...". The general term "any other way" should be interpreted to belong to the same class or type of thing as "Street", "road", "bridge", and "viaduct", and therefore would not include, for example, a public hiking trail. |
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- Expressio Unius est Exclusio Alterius
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When a statute explicitly refers to one kind or type of thing it may be concluded that it does not refer to other categories of such things. For example, "water, land and air pollution" are not considered to be the same as noise pollution |
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- Modern Absurdity Rule |
This rule states that it is presumd that legislation is not intended to produce absurd consequences, such as illegal contradiction, internal incoherence, or violations of justice, reasonableness, common sense or the public standard. Therefore, where words of a statute allow for more than one interpretation, avoiding absurd consequences is a good reason to prefer one interpretation over another, even if the ordinary meaning leads to absurdity. |
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- Change in Language
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A change in language on a re-enactment of a provision reasonably connotes a change in meaning unless there is other evidence to suggest something less significant was intended, such as "language polishing". |
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- Headings and References
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Headings, and references following a section, are for convenience and are not part of an enactment. Therefore, they have no value in questions of interpretation of the words of the statute. |
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- Title and Preamble
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The title and preamble to a statute are part of the statute and are intended to assist in explaining its meaning and object. |
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- Tautology is Avoided
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A tautology is a statement that is necessarily true. In the context of the interpretation of statutes, a tautology is equivalent to a redundancy. As a rule, meaning should be given to all words in the statute. In a well-drafted statue, each word in the statute is part of the scheme and alters the meaning in some way. Consequently, there should be no "extra" words which would serve to confuse the drafter's meaning. |
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- Context |
As explained above, a term may have a number of different meanings. The meaning of the term may be restricted, however, by the context in which it used. |
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Tools of the Trade |
- Statutory Definitions - Interpretation Act - Ordinary Dictionaries - Legal Dictionaries - Other Legislation - Case Law - Text books |
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- Statutory Definitions
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After reading a section in a statute a question may arise concerning the meaning of the word. many statutes contain their own definition section which is normally found at the beginning of the statute, or at the beginning of the part of the statute dealing with the subject matter.
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- Interpretation Act
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Apart from specific statutory definitions, there is a general statutory dictionary called the Interpretation Act. This statute contains definitions for the interpretation of terms used in legislation as well as methods of statutory interpretation.
If there is a conflict between the definition in the Interpretation Act and the definition in a specific statute, the meaning in the Interpretation Act will not apply. If there is no contrary definition in the enactment being interpreted, the definition of the Interpretation Act can be applied to the subject matter. |
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- Ordinary Dictionaries
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If a statute does not define a term it uses or leaves open another meaning, and the context does not require a restricted or specific meaning, then the ordinary meaning of the word(s) in their immediate context is to be applied. The ordinary meaning of the word(s) in their immediate context is to be applied.
It is important to remember that a number of different meanings are usually given in a dictionary. Some of these meaning may clearly not apply, but of the meanings that could apply, the most common are listed first and the most obscure are at the bottom of the list. In addition, there may be different definitions in different dictionaries. |
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- Legal Dictionaries
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Some terms have acquired a specific technical legal meaning. A good source of technical legal definitions is Black's Law Dictionary. |
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- Other Legislation
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Sometimes other legislation which deals with the same subject matter can be helpful in the interpretation of a statute. |
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- Case Law
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The final statement as to the correct legal interpretation is a decision of a higher board, judge, or panel of judges.
Case law as precedent - where an issue has been decided by a board or the courts on a previous occaision, the decision of the board or the courts is said to be a "precedent". In other words, a party can rely on the precedent as authority for one view or interpretation of the legislation. The most important precedent are, of course, those from the higher courts. |
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Case Law (Continued)
Binding Decision |
The doctrine of Stare Decisis is essential to the rule of law. Stare Decisis is a policy of the Court to apply previously decided principles to future cases. |
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Text Books |
A number of textbooks have been written to specifically aid in the interpretation of statutes. |
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Property Assessment Law as a Branch of Administrative Law |
- Compiling the Assessment Roll - Torts and Public Officials - Duty to Act Judicially - Actions Outside of the Normal Appeal Process
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Compiling the Assessment Roll |
- Duty of Care - Statutory Duties - Common Law -Representation and Disclamers
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Compiling the Assessment Roll:
Duty of Care |
There are at least two kinds of duties of care:
duties imposed by statute and common law duties. A duty imposed by a statute normally exists only by special mention of the statute. A common law duty is a duty imposed by the courts arising from previous decisions and judgments of the courts. |
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Compiling the Assessment Roll:
Statutory Duties |
Statutory duties of care will be identified in the applicable provincial legislation. In general, there is a duty to take care to set down a person's proper name and address on the assessment roll. Failure to take this care could render the assessment office liable if damage results. Of course, there is a duty to ensure information provided by the taxpayers is kept confidential. |
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Compiling the Assessment Roll:
Common Law |
In addition to statutory duties, the common law imposes on individuals in positions of apparent authority or expertise a duty of care to others even where there is no contract between them. The courts have established that the party suffering the damage must, in bringing an action against the assessors or the employer, prove the following elements:
- Apparent knowledge (the party providing the information is or should be knowledgeable about the information he or she is giving). - Wrong advice (given without any disclaimer of liability, such as "follow at your own risk"). - Reasonable reliance (by the recipient of the information provided); and, - Damage (resulting from the erroneous information). |
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Compiling the Assessment Roll:
Representation and Disclaimers |
In order to protect oneself from such "negligent misrepresentation", an employer might disclaim such representations by a notice to the public advising that employees do not have the authority to make representations about certain things such as expected future taxes.
In the case of "negligent misrepresentation", it is not necessary to establish whether the assessor or appraiser knew that the advice was incorrect. If it can be shown that the appraiser did not make a reasonable effort to ensure the advice was correct, liability is proven. |
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Torts & Public Officials |
A tort has been developed over the past several years which is confined to the actions of public officials. If damage results from such wrongful conduct, the public officials will be liable.
- Abuse of Public Office - Removal from Office or Quo Warranto |
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Torts and Public Officials
Abuse of Public Office |
Malicious or capricious actions on the part of public officials resulting in injury to other may attract civil liability in the absence of negligence or other wrongs.
It is not necessary that an official intends to cause harm so long as he or she knows, or ought to have known, that the wrongful act will likely cause injury or damage as a consequence. |
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Torts and Public Officials
Removal from Office or Quo Warranto |
In the case of public officials, there is an extraordinary but rarely invoked remedy which can be used in cases where there is serious demonstrable improper conduct. This remedy allows an interested party to bring an action to have the public officer removed from office. |
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Duty to Act Judicially |
Basis: The duty to act judicially is based on the characterization of a function as judicial or quasi-judicial in nature rather than administrative. A function is characterized as judicial in nature where it involves discretion and is likely to result in a decision affecting the rights of people.
Implications: The implication of the characterization of an action or function as judicial or quasi-judicial is that the exercise of such a function is generally subject to judicial review or review by the courts. |
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Market Value as defined by the BC Courts |
"Actual Value" means the price which a property would fetch if sold on the market on the statutory valuation date in a cash transaction between informed parties both free from duress and influenced neither by speculative considerations nor by any special value, which the property might have to a particular purchase, which it would not otherwise have. |
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Methods of Appraisal |
Direct Comparison Cost Approach Income Approach |
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The three approaches to establishing market value were ratified by the courts in the Sun Life Assurance Co. of Canada v. City of Montreal. In this case, the subject property was a large ornate office building for which an active market of comparable sales did not exist. Thus, the property would only be valued on the basis of income or replacement cost. The Sun Life case is important because the Court established 5 major ways by which assessed value can be determined |
1) a recent free sale of the property itself where neither conditions of the property nor the market have since changed 2) recent free sales of identical properties in the name neighbourhood and market 3) recent free sales of comparable properties 4) the price which the revenue producing possibilities of the property will command, 5) depreciated replacement cost. |
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Highest and Best Use |
In some instances, an assessor will be required to value a property where the current use of the property is not its highest and best use. This is because a market value appraisal must reflect the use that offers the property's maximum value potential, regardless of whether it is currently used for that purpose. Market value reflect the highest and best potential use for which the land is suitable. |
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Equity |
One of the most important issues in assessment is equity - roughly speaking, equal properties should be treated equally. If the tax burden is to be distributed fairly, all properties must be assessed at market value or a similar proportion of market value.
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Value to the Owner |
It is generally inappropriate for the assessor to add special value to a particular owner. |
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Chapter 4
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Valuation Planning |
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Revaluations |
The process of estimating new values based on specific rules and current data. The rules may be laws, court decisions, or standards of practice; data can include sales, replacement costs, property characteristics, neighbourhood trends, and current use. |
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Why Revaluations?
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- A revaluation can substantially improve tax equity and appraisal performance. |
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Revaluations can take more than one form |
There are jurisdictions that keep values current; thus, revaluation is a routine part of an annual cycle.
Where a full value update is not performed annually, or is simply a matter of applying local trend indexes to classes of property, a full revaluation becomes a more significant undertaking. |
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Assessors have two general alternatives for revaluations |
1) to contract a private firm to conduct the revaluation
2) to perform in house |
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CAMA System |
Computer-assisted Mass Appraisal system.
Can provide a foundation for more regular and economical value updates. |
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Statutory Considerations for Valuation Planning |
An assessor's responsibilities are often defined by law. Statutes usually prescribe the level and frequency of revaluations, property classifications and exemptions and the mechanics of the assessment and taxation process. |
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Other Motives for Revaluation |
- The basic motive is equity. When a property is over appraised, its owners will be paying more than their fair share of taxes.
- If there are lots of incorrect assessments, appeals will be time consuming and expensive for both taxpayers and the community.
- Under appeals contribute to a lower tax base, causing the community to set higher tax rates. |
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Technical Requirements in Valuation Planning |
- Determining the scope of the project - Data verification and collection - Valuation methodology. |
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Technical Requirements in Valuation Planning
Scope of the Project |
The nature of a revaluation project will depend on the present state of the assessor's records and values, the time available to conduct the revaluation, budget constraints, long-range goals and plans, availability and capabilities of permanent staff, recruitment and hiring practices, and statutory requirements. |
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Technical Requirements in Valuation Planning
Determine the Current Performance |
Performance is best measured through a ratio study. Even a simple study will give a good idea of overall performance. Existing provincial studies may also provide highly useful information. Results can be compared with provincial guidelines. |
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Technical Requirements in Valuation Planning
Valuation Methodology |
Includes;
- Defining the Object and Requirements of the Revaluation - Decide Whether to Contract or Perform the Revaluation In-House - Plan the Revaluation - Collect the Required Data - Develop Schedules, Manuals, and Models - Test and Refine Models - Produce and Defend Values |
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Data Verification or Collection |
Constitutes the most crucial and costly part of most revaluation projects. In designing the data collection effort, the requirements of the CAMA system and the availability of existing information should be considered.
The calibre of property data for mass appraisal is measured by its quantity and quality. |
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Data Quantity |
Relates to the completeness of data. Some characteristics are relatively standard, such as building size, wall type, construction grade, year built, and lot size.
Other requirements can vary among mass appraisal systems. For example, one system may require an effective age, while another require physical condition. |
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Data Quality |
Refers to the accuracy of collected data. |
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Sequence of activies |
Tasks should be scheduled in a logical sequence. Figure 2 on page 4.11 outlines the steps required for a revaluation that includes installation of a CAMA system. |
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Project Work Plan |
An evaluation must be carefully planned and managed. The work plan should identify each activity and include:
- The work units to be completed for the activity (eg. number of houses to be listed) - The required production rate (eg. number of houses listed per week) - Intended staffing: category and number of people to be assigned. - The period in which the activity is to be performed.
In planning the project, time must be built in for contingencies and unforeseen problems as well as lead times for hiring and training. Allowances should be made for hardware malfunctions and unexpected employee absences.
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Developing the Budget |
The revaluations can be translated into a budget by using the applicable labour rates for each employee and estimating other expenses. The cost of hiring and training, and the probable turnover rates for a project of given size should also be considered. |
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Managing the Revaluation |
The following basic management principles should be applied in a revaluation program:
- Don't lose sight of the programs objectives: Evaluate events in light of the objectives.
- Plan for the unexpected: React to situations as they develop and be flexible
- Keep everyone informed: Informed people will be more supportive and willing to accept adjustments to the plan. |
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CAMA System Requirements |
A CAMA system has four basic components:
1) A data management system: provides for the collection and update of property characteristics data including maps and income data.
2) A Sales analysis system: provides for the collection and processing of sales data, including ratio studies.
3) A valuation system: offers computerized application of the three approaches to value
4) An assessment administration system: includes a variety of activities related to the administration of the assessor's office, such as the preparation of value notices, use-value assessments, appeals processing, and the generation of management information reports.
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Refer to CAMA sytem development, etc. if necessary |
Pages 4.18 to 4.26 |
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Mass Appraisal |
The systematic appraisal of groups of properties at a given date, using standardized procedures and statistical testing.
Requires the development of valuation models capable of replicating the forces of supply and demand over a large area. The assessor must be able to develop, support, and explain valuation tables and adjustments for various property use classes, construction types, and neighbourhoods, among other property groups.
In mass appraisal, statistical methods are used to gauge the accuracy and consistency of valuations. |
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Components of a Mass Appraisal System |
1) Data Management System 2) A Valuation System 3) A Performance Analysis System 4) An administrative/Support System 5) An Appeals System |
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1) Data Management System
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This system has components for the collection, entry, editing, organizing, storage, and maintenance of both property characteristics and comparative data (sales, cost, incomes, and expenses).
Quality control is vital, because the accuracy of values depends on the reliability of the data from which they are generated.
Data maintenance is the process of keeping the data up-to-date. |
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2) A Valuation System
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The valuation system consists of mass appraisal applications of the direct comparison, cost an income approaches to value.
Direct comparison applications include multiple regression analysis, adaptive estimation procedure, and automated comparable sales analysis.
The cost approach requires maintenance of computerized cost schedules an equations, derivation of depreciation schedules from market data, and reconciliation of cost- generated values with the market.
Mass appraisal applications of the income approach include the development and use of income and expense ration, income multipliers, and overall rates. |
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3) A Performance Analysis System
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Monitors the effectiveness of the mass appraisal system. Ratio studies, generally the primary product of this system, provide the best available measures of appraisal performance and are a valuable tool for evaluating results, identifying reappraisal priorities, adjusting valuations to the market, and assisting management in planning and scheduling.
Ratio studies can be supplemented by appraisal reviews and audits, which are particularly useful for property types that sell infrequently. |
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4) An administrative/Support System
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Composed of a variety of functions and activities subject to varying degrees of automation.
Most activities in the administrative/support system require information from the performance analysis, valuation or data management systems. |
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5) An Appeals System |
A CAMA system must provide for the tracking of handling of appeals. The system should include components for retrieving property documents and information, generating comparable sales and value benchmarks used in defence of appeals, scheduling and tracking appeals, and notifying owners of results. The system will reflect statutory requirements and local policies and strategies for reviewing and defending values. |
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Summary of Mass Appraisal Steps |
1) Performance Analysis - Determines whether values are equitable and consistent with the market.
2) Revaluation Decision - Statutes or administrative rules sometimes impose revaluation requirements. Some jurisdictions use a cyclical schedule, in which a portion of the jurisdiction is physically reviewed and revalued each year. Other jurisdictions revalue all properties in mass at periodic intervals.
3) Analysis of Available Resources - Before defining goals and objectives for a revaluation, the jurisdiction must take stock of its available resources: staff, budget, existing systems and practices, data processing support, and existing data and maps.
4) Planning and Organization - the most important aspect of a revaluation project. The jurisdiction identifies its target completion date and performance objective, then develops a specific action plan and schedule to achieve its objective on time. The plan defines critical activities and their completion dates, assigns responsibilities, and sets production standards for data collection and field work.
5) System Development or Acquisition
6) Pilot Study - tests new appraisal methods and associated values in one or two areas of the jurisdiction and should be considered whenever major changes are made. A pilot study, which should include a ratio study, will show in the new system produces accurate and reliable values, and also suggest improvements in methods and procedures.
7) Data Collection
8) Valuation
9) Value Defence
10) Final Performance Analysis
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Review of Real Property Appraisal Terminology
Supply |
Supply is a schedule showing the amount of a good or productive service that would be offered for sale at various prices during a given period. A supply schedule expressed graphically is a supply curve. Supply curves usually slope upward, indicating that more will be supplied at higher prices. |
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Review of Real Property Appraisal Terminology
Demand |
Demand is a schedule showing the amount of a good or productive service that would be purchased at various prices during a given period. Demand curves usually slope downward, indicating that less will be purchased at higher prices. |
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Review of Real Property Appraisal Terminology
Market Price |
Market price is determined by the intersection of supply and demand curves. |
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Review of Real Property Appraisal Terminology
Competition |
Competition is the basic to the economist's analysis of price. It affects the amount of a product or good that suppliers (sellers) will offer at various price levels. When the amount of property of a certain type offered for sale is large in relation to demand, competition will reduce prices; competition will force prices up when the opposite situation prevails. Economics carefully define various degrees of competition. |
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Review of Real Property Appraisal Terminology
Market Value |
The purpose of most appraisals is to determine market value. Market value is not the same as price, but, if the market is reasonably competitive, prices can be strong evidence of market value. Market value is also time specific. |
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Review of Real Property Appraisal Terminology
Highest and Best Use |
Demand for a property depends on potential utility rather than utility in current use. In a well-functioning market, buyers and sellers are aware of the various uses to which a property could be put, and market value is based on its most profitable legal use. In long run equilibrium, all property will be in its highest and best use. |
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Chapter 7 |
Data Collection and Management |
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Determining of Data Needs |
It is important to evaluate the quality and quantity of existing data before redesigning a data inventory system. |
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Quality |
Should be focused on the accuracy of recorded information relied upon to estimate values.
Information is often fairly accurate for properties that have been visited recently but information may be out of date if a property has not been visited for five or more years. |
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Quantity |
refers to the data currently available of that which must be collected. |
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Pilot Study |
A pilot study helps to evaluate what to collect and how. In a pilot study, data are collected on a limited set of representative properties. Values may be estimated for these properties using several approaches and the resulting values analyzed to identify what factors contribute to value. |
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Describing and Coding Property Characteristics |
Developing a scheme for accurate and efficient description and coding of property charactersistics goes hand in hand with the determination of data needs |
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Coding |
reduces a description to a more manageable size through the use of letters, numbers or symbols. In real property appraisal systems, descriptions of relevant property characteristics are ultimately reduced to numerical values to that mathematical calculations can be performed. |
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A description may be qualitative or quantitative |
Quantitative is objective "taking a measurement" whereas qualitative is subjective "describing a home as a mansion". |
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Property characteristics may be continuous, discrete, or binary |
- A continuous variable is one that is based on measurement. Building area, for example, is a continuous variable.
- A discrete variable can take on specific numerical values. Usually whole number values within certain limits. The number of rooms in a dwelling would be a discrete variable.
- A binary variable (or yes/no variable) is one for which only two values are possible. An example of a question that creates a yes-no variable is "Does this site have lake frontage?" |
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Rating schemes |
Often used for discrete variables... eg, 1-6 for construction quality, building condition, etc. |
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Property characteristics may be objective or subjective. |
Objective characteristics are directly measurable or verifiable
Subjective characteristics require a judgement, they are not directly measurable, observable, or verifiable. |
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Designing the Property Record Form |
How the form is designed affects how the data are coded and recorded. Both the data collector and the computer system require a clear and precise format. The order of information, such as dwelling characteristics, should match the order in which the data collector will be observing such information when approaching the home, question the owner, and measuring the house.
The form should be laid out in a sequence that makes office use easy. Computer input screens should math the flow of information on the form, so the data entry clerk can follow the form efficiently. |
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Typical factors included on a property record form |
PID Number - Street Address - Property use classification - tax district - neighbourhood code - legal description - size and shape of parcel - site characteristics - improvement characteristics - building perimeter sketch - cost approach data.
Optionial items include:
Building permits history - Sales History - income and expense information - record of inspections and visits to the property - Assessment history - Appeals history |
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Hand Held Computer Systems |
Moving away from pencil and paper systems to a paperless handheld computer system in the field allows for seamless transfer of data from the field appraiser to the CAMA system and vice versa. This could greatly reduce data entry backlog, poor penmanship, and clerical errors. |
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Designing Data Inventory Manuals |
Defines the format for data collection. The manual should help data collectors to be efficient, accurate and consistent with one another.
Definitions of terms ensures that each data collector evaluated items from the same frame of reference.
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Field Data Collection |
Field Data Collection is often the major activity of a revaluation project, especially one being done for the first time in several years. The data colletion program therefore requires organization, planning and close supervision. The following tasks and items are required:
- Hiring data collectors - Training Programs for Data Collectors - Office Preparation of Property Record Forms - Field Visits - Quality Control - Logistics |
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Hiring Data Collectors |
In hiring data collectors, consider the scheduyle, the local labour market, and the calibre of people needed.
Consider the following;
- Qualifications - Compensation - Existing staff |
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Training Programs for Data Collectors |
The training program should tech data collectors what data to collect, how to do it, and how to be courteous, professional, and helpful to the public.
The training program should have both classroom and field lessons. |
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Office Preparation of Property Record Forms |
Preparation of property record forms in the office will expedite field collection. |
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Field Visits |
Establishing good public relations before data collectors are sent into the field is important. News releases, informational brochures, and public meetings should be used to explain the purpose of the revaluation program and the importance of accurate data collects. Announcing where the data collectors will be working in the next few weeks is also helpful.
Data Collectors should;
- carry ID - Have identifying signs on cars - Carry Brochures |
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Quality Control |
Group leaders provide front-line quality control and should be personally accountale for the quantity and quality of work produced by those in their charge.
Their responsibilities include;
- Meeting the data collectors in the field at the beginning and end of the work day to distribute and collect work - Reviewing work done by the data collectors - Checking samples of the data collectors work for quality review and interviews with property owners. - Discussing problems with the group and individuals - Completing production reports - managing assignments - general stuff
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Logistics |
It is difficult to forecast production for a project when it is affected by so many factors. Nonetheless, planning and attention to critical elements at the start of a project can improve the chances for success. For planning, use typical production rates |
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Determining Field Production Rates |
Parcels/day = Average data collection rate in field
Multiply this by;
X Parcel Density Factor X Complexity factor X Callback Factor (1 - fraction of each day spent on callbacks) X Travel Time (1- travel hours/work day hours) X Training (1-training days/average work days) X Weather Days (1 - weather days/total work days)
= field production rate per day
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Document Control in the office |
Field supervisors should be responsible for getting data collectors work reviewed and back to the assessment office for additional review and processing. A control form, designed to provide control and summary information should be used to log batches of property record forms as they are routed among data collectors, field supervisors, and the assessment office.
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Data Inventory Questionaire |
Contains a summary of property information for the property owners residence and are sent to property owners. Any corrections or additions can be noted, filled out and returned to the assessment office. They should be reviewed and any concerns regarding the authenticity can be confirmed with property owners with a phone call. |
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Data Maintenance |
Once data have been collected, they must be kept up to date. Periodic physical review is essential to maintain an accurate and current inventory. |
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Data Management Systems |
- Bach Data Management - On-line Data Management
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Bach Data Management |
Data entered from one or more batches of source documents are collected on a computer readable medium, usually a magnetic tape.
Bach data management programs processes information through a series of steps. First the information is sorted into the same sequence as the file it will be updating. The sort also puts the transactions for a record into effective date sequence.
Next the transactions may be processed through an edit routine that checks for validity. Incomplete tansactions are reported and only valid transactions are reported and passed to the to update the master file.
An update program then processes the transactions against the master file. The update program validates the action as appropriate for the record affected by the change.
The update program produces an audit trail showing all activity against the master file in the update run.
Finally, the batch data management system process should include a master edit program that edits the information in each updated record for validity, completeness and consistency. |
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Online Data Management |
In online operations, data management takes place interactively.
Usually a screen will be displayed that solicits the record to be updated and the action to be taken.
After the operator enters the record's identification number and the action to be taken, the computer chekcs the master file for the record, validating that the action requested is consistent with the record's current status on file. If it is not, an error message will be displayed indicating the problem. |
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EDITS |
Edits improve the integrity of data in the computer file. They reduce input erros and identify data collection errors. Above all, edits help validate value calculations. Edits can be classified as Hard or Soft |
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Hard Edit |
Designed to catch a serious error and causes the information being edited to be rejected |
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Soft Edit |
designed to catch values that are probably wrong but may be correct in exceptional circumstances. |
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Check Digit |
Serves as an internal edit on critical value fields such as the PID number. Check digits catch minor errors such as transposition of two digits in the input sequence, that could result in accessing a different valid par |
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Data Type Edit |
Protects against non-numeric data being entered in a field that should contain only numbers. |
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Range Edit |
Usually performed on numeric data elements to determine if the values fall between a specified minimum and maximum value |
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Value (Table) Edits |
check the value against a list or table of allowable values. Values not on the list or table are rejected. |
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Cross Edits |
Involve cross checks between two or more related data elements. For example, finished basement area can be checked against basement code. If a finished basement area is entered but the basement code indicates "no basement', and error message informs the use of the inconsistency. |
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Ad Hoc Edits |
Are user developed in response to particular problems discovered during data collection. A data collection supervisor could, for example, request a report displaying selected information for two storey houses collected by data collector 023 in neighbourhood 101A. |
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New Development in Data Collection |
Handheld Devices
Scanners
Video/photo imagery |
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Chapter 8 |
Recording and Analyzing Property Sales Data |
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Land Information and Ownership Records |
Assessors and cadastral mappers should understand ownership determination and then develop policies to cover basic problems. |
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The Legal Framework |
An understanding of property law and an ability to communicate about it are essential for two reasons:
Land is valuable and land owners have emotional bonds with their properties that my produce strong reactions when an assessor's office processes a conveyance and discovers apparent problems with ownership or boundaries. |
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There are two principal land registration systems in Canada |
The registry system
The land titles (Torrens) system |
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The Registry System |
The older, more traditional registry system used in parts of Ontario , the Maritime provinces and a small portion of Manitoba.
It is a system for the registration of deeds. The registry system provides for the public recording of instruments affecting land but does not make any guarantees regarding the legality of these instruments or the status of title.
Each piece of land is assigned a registration number and the particulars of the registration are recorded. This gives notice of claimed interests to the public at large. Registration does not mean an instrument is valid or legally effective in creating the interest which is being claimed. Therefore, registration is not assurance as to title but simply a public record. The legal effect of the various instruments which are registered must still be determined by interested parties.
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The Registry System fulfills two purposes |
- It is a method of orderly registration of different and potentially competing interests in property. Under the registry system these interests become a matter of public record.
- it provides for statutory rules which amend the common law principles regarding the priority of various interests |
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The Land Titles (Torrens) System |
The land titles, or torrens, system is more than a methord for the public recording of interests in land. Title to land is effectively guaranteed by the province.
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Deeds - Documents for the Transfer of an Interest in Land |
A deed is a written agreement, in proper legal form, that conveys title to real property or an interest in real property. The purpose of the deed is to describe the land intended to be conveyed and to identify it for title purposes, as a protection for the purchaser. |
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The most important parts of a Deed |
- Name of parties - Consideration (Value Exchange) - Granting Clause - Habendum Clause - Legal Description - Testimony Clause - Signature - Witness - Date
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Types of Deeds |
- Warranty Deed - Special Warranty Deed - Quitclaim Deed - Deed of Correction - Mineral or Timber Deed |
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Warranty Deed - |
Contains the most assurances for the purchaser. In it the vendor warrants that he or she owns the property and has the right to sell it, and that there are no encumbrances against the property not specified in the deed. The vendor guarantees the title against defects arising both before and during the time he or she owned the land, agrees to bear the expense of defending the purchaser's title if a third party assets a rightful claim, and assures the purchaser that he or she will perform any acts necessary to perfect the title. |
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Special Warranty Deed - |
Does not contain the above assurances. The vendor warrants the title only against defects arising during the period of his or he ownership of the property, not against defects existing before that time. A special warranty deed is often used by executors or trustees when conveying the property of a principal, as they usually have no authority to warrant against acts of their predecessors. |
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Quitclaim Deed - |
A quitclaim deed is one in which the vendor releases whatever interest he or she may have in the property. There are no warranties as to title or possession, and there is no assurance that the vendor even had any interest in the property. Quitclaim deeds are commonly used to resolve boundary disputes, title problems, and contract defaults, but may also be used simply for legal convenience. |
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Deed of Correction - |
used to correct errors in a prior deed. For example, a mistake may be discovered later in a legal description |
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Mineral or Timber Deed |
Conveys only that specific ownership interest, not an interest in the entire real property. Mineral deeds may convey only one mineral or one seam of a mineral. |
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Wills |
A will is a written document in which the testator (maker of the will) provides for the disposition of both real and personal property. A will take legal effect only upon the testator's death, and thus it can be revoked or amended at any time before death. The testator must be of age and be of sound mind, must declare the writing to be his or her "last will and testament" and the signature of the testator must be property witnessed. |
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Sales Screening and Analysis |
Sales must be screened to identify sales that require adjustment or are not indicative of market value. |
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Adjustments for Personal Property |
Many sales include personal property of significant value. If these sales are used, the value of the personal property must be estimated and subtracted from the sale price to determine the price paid for the real property alone.
The preferred method of adjusting for personal property is to identify the personal property items in each sale, obtain or make an estimate of their market value, and subtract it from the total purchase price.
In commercial, industrial, and multi-family residential sales, personal property is usually more than a small percentage of the total sale price. A reasonable value for personal property must be estimated.
When the amount of personal property is substantial and a REALIABLE estimate of value cannot be obtained, the sale my be excluded. |
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Adjustments for Financing |
The market value of a property is its more probable selling price in terms of cash or the equivalent. When financing reflects prevailing market practices and interest rates, sale prices can be considered equal to cash.
Appraisers have long recognized that nonmarket, or creative, financing tends to inflate sale prices, because create financing usually involves below market interest rates.
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Adjustments for financing are needed if.... |
- the vendor provides financing - the purchaser assumes an existing mortage at nonmarket interest rate. - the purchaser assumes an existing lease the buyer pays delinquent taxes |
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Adjustments for Time |
- Paired Sales Analysis - Resale Analysis - Sales Ratio Trend Analysis |
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TAS = S 91 + rt) |
Where TAS is the time adjusted sale price, S is the unadjusted (original) sale price, r is the monthly (or quarterly) rate of change, and t is the number of months (or quarters) from the sale date to the assessment date.
For sales after the assessment or target date, the formula is
TAS = S (1 - rt')
In this case t' is the number of months after the assessment date that the sale occurred. |
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Cost Data |
Valuation by the cost approach requires data on construction costs. These and other market data are used to develop and update cost manuals, which allow cost models t be easily applied. Cost manuals present cost models in a format that allows the models to be applied easily. |
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Chapter 9 |
Mapping System Management |
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Land Description and Map Referencing Systems |
The legal description of land is based on surveys. These may be purely visual and highly subjective or precise mathematical delineations of the limits of the land. The land description systems commonly in use are metes and bounds, section and township, and lot and block. |
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Metes and Bounds |
The earliest form of land description was the "bounded" description, which described the property by reference to physicial features or adjacent property owners.
Typical physical features included trees, ridge lines, streams and roads.
Later, Metes and Bounds came into existence. This was the practice of surveying and measuring the direction of property lines with comparass bearings and the distance measured with chains or tapes.
Metes refers to measurements and Bounds refers to boundaries.
Property lines are described in terms of direction within one of the four quadrants of the compass (NE, SE, SW, NW)
A proper metes and bounds description should "close"; that is, the last line should come back to the point of beginning. |
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Section and Township System |
These systems have a numbe of independent points of origin through which pass true mediridians of longitude and parallels of latitude, called, principal meridians and base lines.
A principal meridian is a true north-south line that passes through the geographic poles of the earth.
A base line is a line that runs east and west parallel to the equator.
Units of land approximately six miles square are established north of the base line and east and west of the principal meridian. Each six-mile division north of the base line is called a township, and each six-mile division east and west is called a range. Each six mile square unit is also called a township.
A township contains approximately 36 square miles and is divided into 36 sections, each approximately one mile square.
In Canada, the sections are numbered consecutively, beginning at the southeast east corner of the township and continuing west to the southwest corner, then east, then west, and so on until each of the 36 sections is numbered with section 36 in the northeast corner.
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Lot and Block Survey |
Small units of land, particularly in urban areas, are commonly described by lot and block survey. This is a map in which a larger parcerl of land is subdivided into small units for the purposes of sale. This map is recorded in the office of the recorder of deeds or land titles. Although each lot Is actually surveyed with a metes and bounds description, conveyances need refer only to the lot, block and map book designation.
It is not necessary to include the survey bearings and distances. |
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Latitude and longitude |
Measured in degrees, minutes, seconds, and if necessary, decimals of a second. |
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Types of Base Maps |
The five general types of mapping bases are:
Aerial Photography Rectified Aerial Photograph Orthophotograph Planimetric Map Topographic Map
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Aerial Photography |
A perfectly veritial aerial photograph taken over perfectly level ground with a perfect camera would not have distortions. It would match a map of the area. However, unadjusted aerial photographs are in accurate due to camera and lens flaws, tilt displacement, and relief displacement. Aerial mapping cameras are peridocially checked and calibrated in an effort to minimize mechanical inaccuracies and optical distortion. |
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Orthophotograph |
A composite product made from overlapping aerial photographs. Thousands of tiny photographs, each of a very small area and each differently enlarged and rectified, become one image. |
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Planimetric Map |
similar to an orthophotograph in that is it made from a three-dimensional stereoscopic model of overlapping aerial photographs, but it differs in that stereo plotting is used to draw selected lines and symbols on a map.
It is a "true" map, with no photographic imagery. |
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Topographic Map |
The most sophisticated base map. |
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Parcel Identification Systems are based on four standards |
Uniqueness Permanency Simplicity Uniformity
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