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Valuation and Assessment of Immovable Property

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  • Richard Almy

    (Almy, Gloudemans, Jacobs & Denne)

Abstract

This paper addresses the following questions about immovable property taxation in OECD and partner countries: What is valued? How is it valued? And who values? It draws on published information and data on property tax policy and administration in 172 countries. It focuses on value-based taxes and the features of mass valuation systems. Main system options (such as whether taxes are based on annual rental values or capital values as reflected by sales prices) are described and briefly evaluated. It notes that valuation practices frequently ignore revaluation requirements; it identifies four areas for improving valuation performance based on the experiences of leading systems.

Suggested Citation

  • Richard Almy, 2014. "Valuation and Assessment of Immovable Property," OECD Working Papers on Fiscal Federalism 19, OECD Publishing.
    • Handle: RePEc:oec:ctpaab:19-en
    DOI: 10.1787/5jz5pzvr28hk-en
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    Citations

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    Cited by:

    1. Eirini Andriopoulou & Eleni Kanavitsa & Chrysa Leventi, 2020. "The distributional impact of recurrent immovable property taxation in Greece," Public Sector Economics, Institute of Public Finance, vol. 44(4), pages 505-528.
    2. Mazurek-Chwiejczak Małgorzata, 2016. "The Impact of The Tax System Structure on The Narrowing of Income Disparities in OECD Countries," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 12(3), pages 27-37, October.
    3. Grover Richard & Walacik Marek, 2019. "Property Valuation and Taxation for Fiscal Sustainability – Lessons for Poland," Real Estate Management and Valuation, Sciendo, vol. 27(1), pages 35-48, March.
    4. Kolbe, Jens & Schulz, Rainer & Wersing, Martin & Werwatz, Axel, 2019. "Land value appraisal using statistical methods," FORLand Working Papers 07 (2019), Humboldt University Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets – Efficiency and Regulation".
    5. Sean Dougherty & Pietrangelo Biase, 2021. "Who absorbs the shock? An analysis of the fiscal impact of the COVID-19 crisis on different levels of government," International Economics and Economic Policy, Springer, vol. 18(3), pages 517-540, July.
    6. Gregor Schwerhoff & Ottmar Edenhofer & Marc Fleurbaey, 2020. "Taxation Of Economic Rents," Journal of Economic Surveys, Wiley Blackwell, vol. 34(2), pages 398-423, April.
    7. International Monetary Fund, 2016. "Republic of Slovenia: Technical Assistance Report-The 2013 Property Tax Act: Evaluation of its Design and the Employed Mass Valuation System," IMF Staff Country Reports 2016/053, International Monetary Fund.
    8. Jens Kolbe & Rainer Schulz & Martin Wersing & Axel Werwatz, 2019. "Bodenwertermittlung mit statistischen Methoden [Land value appraisal using statistical methods]," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 5(1), pages 131-154, November.
    9. Tommaso Oliviero & Agnese Sacchi & Annalisa Scognamiglio & Alberto Zazzaro, 2019. "House prices and immovable property tax: Evidence from OECD countries," Metroeconomica, Wiley Blackwell, vol. 70(4), pages 776-792, November.
    10. François Geerolf & Thomas Grjebine, 2018. "Property Tax Shocks and Macroeconomics," Working Papers 2018-03, CEPII research center.
    11. Shulu Che & Ronald Ravinesh Kumar & Peter J. Stauvermann, 2021. "Taxation of Land and Economic Growth," Economies, MDPI, vol. 9(2), pages 1-20, April.
    12. Kara, Abdullah & van Oosterom, Peter & Çağdaş, Volkan & Işıkdağ, Ümit & Lemmen, Christiaan, 2020. "3 Dimensional data research for property valuation in the context of the LADM Valuation Information Model," Land Use Policy, Elsevier, vol. 98(C).

    More about this item

    Keywords

    immovable property tax; Land tax; property tax; real estate; tax system; taxation; taxes;
    All these keywords.

    JEL classification:

    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies

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