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Estimating Market Prices and Assessed Values for Income Properties

Author

Listed:
  • Christian Janssen

    (Faculty of Business, University of Victoria, Victoria, Canada, V8W 2Y2, cjanssen@uvic.ca)

  • Bo Söderberg

    (Department of Building and Real Estate Economics, Royal Institute of Technology, Stockholm, S-10044, Sweden, bosoder@recm.kth.se)

Abstract

Assessors perform property valuations for the purpose of tax assessment. Buyers and sellers make investment decisions culminating in a market price. The valuation by assessors is supposed to be fair and equitable and to amount to a prescribed proportion of market value. We investigate the property features considered by assessors in arriving at the assessed value, and by buyers and sellers in arriving at the market price. We also explore what factors appear to be considered differently by the assessors and the market thus contributing to overassessment or underassessment of property taxes. The analysis deals with income properties centrally located in Stockholm, Sweden.

Suggested Citation

  • Christian Janssen & Bo Söderberg, 1999. "Estimating Market Prices and Assessed Values for Income Properties," Urban Studies, Urban Studies Journal Limited, vol. 36(2), pages 359-376, February.
    • Handle: RePEc:sae:urbstu:v:36:y:1999:i:2:p:359-376
    DOI: 10.1080/0042098993646
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    References listed on IDEAS

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    Cited by:

    1. Stephen Meyer & Roger A. McCain & Paul Jensen, 2003. "Hybrid Real Estate Valuation Models with Neighborhood Effects: Marrying Geographic Information Systems and Nonlinear Econometrics," Computing in Economics and Finance 2003 17, Society for Computational Economics.

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