IDEAS home Printed from https://ideas.repec.org/a/eee/lauspo/v131y2023ics0264837723002004.html
   My bibliography  Save this article

Sustainable tax system design for use of mass real estate appraisal in land management

Author

Listed:
  • Unel, Fatma Bunyan
  • Yalpir, Sukran

Abstract

Sustainable land management aims at land use by protecting nature. Real estate value is one of the important parts of land management, especially at the decision stages. The value associated with a major part of domestic real estate is tax value. The purpose of this study is to develop a tax system that is easy to understand and use as well as compatible with innovations. The sustainability of mass real estate appraisal is provided with legal, physical, locational, neighborhood and economic criteria according to ordinary and extraordinary conditions. The plots reserved for housing in urban areas were selected as the real property type with updates regarding appraised value for taxation. Valuation stages were discussed separately from general to detail, and coefficients were used under the current tax law. Sustainable mass plot appraisal system was designed by providing sustainable cycle economic and extraordinary criteria. The application was carried out in Konya/Lalebahçe Neighborhood and the sustainability of the system was observed. A multiple regression model was created from the samples of 2015 and the real estate value estimation was made with the data of the criteria affecting the value. With the model obtained from the economic criteria of 2005–2015, the economic valuation rate of real estate was found for the years 2016–2021. The results were compared with 10 market sample data for the years 2020–2021. The values estimated by the economic valuation rate of the real estate in 2020 approached the market values with an average of ± 7 % standard deviation and in 2021 with a ± 14 % standard deviation. A sustainable mass appraisal system for taxation was successfully tested and its sustainability was observed.

Suggested Citation

  • Unel, Fatma Bunyan & Yalpir, Sukran, 2023. "Sustainable tax system design for use of mass real estate appraisal in land management," Land Use Policy, Elsevier, vol. 131(C).
    • Handle: RePEc:eee:lauspo:v:131:y:2023:i:c:s0264837723002004
    DOI: 10.1016/j.landusepol.2023.106734
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0264837723002004
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.landusepol.2023.106734?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. d’Amato, Maurizio & Zrobek, Sabina & Renigier Bilozor, Malgorzata & Walacik, Marek & Mercadante, Giuseppe, 2019. "Valuing the effect of the change of zoning on underdeveloped land using fuzzy real option approach," Land Use Policy, Elsevier, vol. 86(C), pages 365-374.
    2. G. W. Kolodko, 2021. "Shortageflation 3.0: War economy — state socialism—pandemic crisis," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    3. Yalpir, Sukran & Sisman, Suleyman & Akar, Ali Utku & Unel, Fatma Bunyan, 2021. "Feature selection applications and model validation for mass real estate valuation systems," Land Use Policy, Elsevier, vol. 108(C).
    4. Ka Shing Cheung & Chung Yim Yiu & Chuyi Xiong, 2021. "Housing Market in the Time of Pandemic: A Price Gradient Analysis from the COVID-19 Epicentre in China," JRFM, MDPI, vol. 14(3), pages 1-17, March.
    5. Jozef Zurada & Alan S. Levitan & Jian Guan, 2011. "A Comparison of Regression and Artificial Intelligence Methods in a Mass Appraisal Context," Journal of Real Estate Research, American Real Estate Society, vol. 33(3), pages 349-388.
    6. Ali, Daniel Ayalew & Deininger, Klaus & Duponchel, Marguerite, 2017. "New Ways to Assess and Enhance Land Registry Sustainability: Evidence from Rwanda," World Development, Elsevier, vol. 99(C), pages 377-394.
    7. Jones, Nikoleta & Clark, Julian R.A. & Malesios, Chrisovaladis, 2015. "Social capital and willingness-to-pay for coastal defences in south-east England," Ecological Economics, Elsevier, vol. 119(C), pages 74-82.
    8. Minhua Yang & Junni Zhou, 2022. "The impact of COVID-19 on the housing market: evidence from the Yangtze river delta region in China," Applied Economics Letters, Taylor & Francis Journals, vol. 29(5), pages 409-412, March.
    9. Kalkuhl, Matthias & Fernandez Milan, Blanca & Schwerhoff, Gregor & Jakob, Michael & Hahnen, Maren & Creutzig, Felix, 2018. "Can land taxes foster sustainable development? An assessment of fiscal, distributional and implementation issues," Land Use Policy, Elsevier, vol. 78(C), pages 338-352.
    10. Martin Hoesli & Richard Malle, 2021. "Commercial Real Estate Prices and Covid-19," Swiss Finance Institute Research Paper Series 21-08, Swiss Finance Institute.
    11. Demetriou, Demetris, 2018. "Automating the land valuation process carried out in land consolidation schemes," Land Use Policy, Elsevier, vol. 75(C), pages 21-32.
    12. Grzegorz W. Kolodko, 2021. "Shortageflation 3.0: War economy – State socialism – Pandemic crisis," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 71(supplemen), pages 13-34, November.
    13. Yilmazer, Seckin & Kocaman, Sultan, 2020. "A mass appraisal assessment study using machine learning based on multiple regression and random forest," Land Use Policy, Elsevier, vol. 99(C).
    14. Daikun Wang & Victor Jing Li, 2019. "Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review," Sustainability, MDPI, vol. 11(24), pages 1-14, December.
    15. Jannet C. Bencure & Nitin K. Tripathi & Hiroyuki Miyazaki & Sarawut Ninsawat & Sohee Minsun Kim, 2019. "Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches," Sustainability, MDPI, vol. 11(13), pages 1-17, July.
    16. David Lorenz & Thomas Lützkendorf, 2008. "Sustainability in property valuation: theory and practice," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 26(6), pages 482-521, September.
    17. Bingbing Wang, 2021. "How Does COVID-19 Affect House Prices? A Cross-City Analysis," JRFM, MDPI, vol. 14(2), pages 1-15, January.
    18. Mr. Marshall B Reinsdorf, 2020. "COVID-19 and the CPI: Is Inflation Underestimated?," IMF Working Papers 2020/224, International Monetary Fund.
    19. Kopmann, Angela & Rehdanz, Katrin, 2013. "A human well-being approach for assessing the value of natural land areas," Ecological Economics, Elsevier, vol. 93(C), pages 20-33.
    20. Elli Pagourtzi & Vassilis Assimakopoulos & Thomas Hatzichristos & Nick French, 2003. "Real estate appraisal: a review of valuation methods," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 21(4), pages 383-401, August.
    21. Leonid N. Yasnitsky & Vitaly L. Yasnitsky & Aleksander O. Alekseev & Jun Yang, 2021. "The Complex Neural Network Model for Mass Appraisal and Scenario Forecasting of the Urban Real Estate Market Value That Adapts Itself to Space and Time," Complexity, Hindawi, vol. 2021, pages 1-17, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Milyausha R. Pinskaya & Rodion V. Balakin, 2023. "Fiscal Implications of a Complete Conversion to Taxation of Property of Organizations in Russia on the Basis of Cadastral Value," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(4), pages 834-860.
    2. Sevgen Sibel Canaz & Tanrivermiş Yeşim, 2024. "Comparison of Machine Learning Algorithms for Mass Appraisal of Real Estate Data," Real Estate Management and Valuation, Sciendo, vol. 32(2), pages 100-111.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elena Bykowa & Maria Hełdak & Julia Sishchuk, 2020. "Cadastral Land Value Modelling Based on Zoning by Prestige: A Case Study of a Resort Town," Sustainability, MDPI, vol. 12(19), pages 1-26, September.
    2. Mariusz Doszyń, 2024. "Might expert knowledge improve econometric real estate mass appraisal?," The Journal of Real Estate Finance and Economics, Springer, vol. 69(4), pages 719-740, November.
    3. Xinba Li & Chihwa Kao, 2022. "Spatial Analysis and Modeling of the Housing Value Changes in the U.S. during the COVID-19 Pandemic," JRFM, MDPI, vol. 15(3), pages 1-25, March.
    4. Raul-Tomas Mora-Garcia & Maria-Francisca Cespedes-Lopez & V. Raul Perez-Sanchez, 2022. "Housing Price Prediction Using Machine Learning Algorithms in COVID-19 Times," Land, MDPI, vol. 11(11), pages 1-32, November.
    5. Sisman, S. & Aydinoglu, A.C., 2022. "Improving performance of mass real estate valuation through application of the dataset optimization and Spatially Constrained Multivariate Clustering Analysis," Land Use Policy, Elsevier, vol. 119(C).
    6. Doan, Quang Cuong, 2023. "Determining the optimal land valuation model: A case study of Hanoi, Vietnam," Land Use Policy, Elsevier, vol. 127(C).
    7. Tsai, I-Chun & Chiang, Ying-Hui & Lin, Shih-Yuan, 2022. "Effect of COVID-19 lockdowns on city-center and suburban housing markets: Evidence from Hangzhou, China," Journal of Asian Economics, Elsevier, vol. 83(C).
    8. Ela Ertunç & Zlatica Muchová & Hrvoje Tomić & Jaroslaw Janus, 2022. "Legal, Procedural and Social Aspects of Land Valuation in Land Consolidation: A Comparative Study for Selected Central and Eastern Europe Countries and Turkey," Land, MDPI, vol. 11(5), pages 1-22, April.
    9. Katafuchi, Yuya, 2021. "Residential land price fluctuations caused by behavioral changes on work-from-home based on COVID-19," MPRA Paper 109310, University Library of Munich, Germany.
    10. Mateusz Tomal & Marco Helbich, 2022. "The private rental housing market before and during the COVID-19 pandemic: A submarket analysis in Cracow, Poland," Environment and Planning B, , vol. 49(6), pages 1646-1662, July.
    11. Arturas Kaklauskas & Edmundas Kazimieras Zavadskas & Natalija Lepkova & Saulius Raslanas & Kestutis Dauksys & Ingrida Vetloviene & Ieva Ubarte, 2021. "Sustainable Construction Investment, Real Estate Development, and COVID-19: A Review of Literature in the Field," Sustainability, MDPI, vol. 13(13), pages 1-42, July.
    12. Elena Bykowa & Maria Skachkova & Ivan Raguzin & Irina Dyachkova & Maxim Boltov, 2022. "Automation of Negative Infrastructural Externalities Assessment Methods to Determine the Cost of Land Resources Based on the Development of a “Thin Client” Model," Sustainability, MDPI, vol. 14(15), pages 1-29, July.
    13. Yanke Dai & Yangfei Xu, 2022. "Cheating under Regulation: Evidence from “Yin-and-Yang” Contracts on Beijing’s Housing Market," Sustainability, MDPI, vol. 14(20), pages 1-29, October.
    14. Sebastian Gnat, 2021. "Property Mass Valuation on Small Markets," Land, MDPI, vol. 10(4), pages 1-14, April.
    15. Daikun Wang & Victor Jing Li, 2019. "Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review," Sustainability, MDPI, vol. 11(24), pages 1-14, December.
    16. Xinba Li & Chuanrong Zhang, 2021. "Did the COVID-19 Pandemic Crisis Affect Housing Prices Evenly in the U.S.?," Sustainability, MDPI, vol. 13(21), pages 1-28, November.
    17. Gill, Balbinder Singh, 2024. "COVID-19 mortality risk premium and the interest rate on mortgage loans," International Review of Financial Analysis, Elsevier, vol. 93(C).
    18. Juergen Deppner & Marcelo Cajias, 2024. "Accounting for Spatial Autocorrelation in Algorithm-Driven Hedonic Models: A Spatial Cross-Validation Approach," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 235-273, February.
    19. Kamel Louhichi & Aymeric Ricome & Sergio Gomez y Paloma, 2022. "Impacts of agricultural taxation in Sub‐Saharan Africa: Insights from agricultural produce cess in Tanzania," Agricultural Economics, International Association of Agricultural Economists, vol. 53(5), pages 671-686, September.
    20. Tezcan, Ahmet & Büyüktaş, Kenan & Akkaya Aslan, Şerife Tülin, 2020. "A multi-criteria model for land valuation in the land consolidation," Land Use Policy, Elsevier, vol. 95(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lauspo:v:131:y:2023:i:c:s0264837723002004. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joice Jiang (email available below). General contact details of provider: https://www.journals.elsevier.com/land-use-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.