Reference

CALIBRATION OF MODELS FOR REAL ESTATE EVALUATION

The object of the project was to set up an information system for calibration of models for real estate evaluation.

For the process of the Real Estate Value Assigment there are models needed which will be used while calculating the value of a specific real-estate. Several models have been roughly defined (for appartments, houses, offices, industry, etc.) but there were parameteres missing, which define, how does properties such as location, area, age, condition and others impact on final value. An applicaiton was implemented which allows operators to handle different parameters, simulate the value assignment model with real data, compare it to market values of transactions which happenede in last 40 years and create statistics which show, how accurate the model is.

REAL ESTATE VALUE ASSIGNMENT PROCESS

The object of the project was to set up an information system for adding a value to real estate.

The system covers all aspects of Real Estate Value assignment - value  calculation models, notification of owners, handling of value changes, preparation of the data for analyses and property tax calculation. The
system is as generic as possible since there were a lot of different situations that needed to be observed (10 different types of models which are changing a few times over the year). The data in the systems  are geolocated units with a complex set of attribute data which go to calculation process, defined by a model described in XML. Results of the process are afterwards stored in a Oracle database and notification  documents are prepared. This process is run a few times every year.

PROCESS FOR  MANAGING COMPLAINTS AND REMARKS

The objective of the project is to set up an information system for effective managing of a process for managing complaints and remarks as regards Real Estate Value assignment from the side of real estate owners against GURS. IS has to allow the GURS officials to re-evaluate whether the Real Estate Value assignment had been done within acceptable margins or the complaint and/or remark is justifiable and evaluation of a Real Estate has to be re-evaluated using and implementing renewed criteria. In case of setting renewed criteria every other concerned owners have to be included into re-evaluation procedure.

By estimation of a degree of justification GIS Layer of Real Estate is included in the IS with its X,Y coordinates and other measures within this tools that allow officials best approach tho solve an iniciated procedure towards affected owners.