Measures of the quality of real property assessments : an examination of their validity
department or school: Business, Sauder School of
data provider: DSpace
degree campus: UBCV
creator: Ghert, Bernard Irvin
issued: 2011-09-14T23:58:50Z
issued: 1965
related degree: Master of Science in Business - MScB
degree grantor: University of British Columbia
description: The tax on real property continues to be a major factor in the fiscal structure of municipal governments. Therefore, justice dictates that the impact of this tax be distributed equitably, however "equitable" may be defined by the legislative authority. This is an administrative problem. In many jurisdictions the administration is directed to distribute the tax impact on an ad valorem basis of current market value. Statistical measures have been devised in order to measure the uniformity of the assessment of current market values. The random variable is defined as the ratio of assessed value to actual sale price, and the sample is the result of property sales which occur under conditions which are circumscribed by the definition of market value. The estimated parameters are then used to make direct statistical inferences regarding the level and uniformity of assessment. These parameters are then compared to pre-selected standard parameters in order to judge the relative uniformity of the assessment roll. First, market generated sales do not produce a random sample of the assessment roll. Therefore, direct statistical inferences from the sample do not apply to the assessment roll. Second, it is demonstrated that the standard parameters are implicitly based on an assumption that the universe of assessment-sale price ratios is normally distributed. The results of empirical investigation upon the Vancouver assessment roll indicate that the normality assumption cannot be justified. Therefore, the pre-selected standards are useless as measures by which to judge the relative uniformity of an assessment roll. Two alternative measures of assessment quality are proposed. First, a binomial model based on correct and incorrect valuation is examined. Though this has some practicable possibilities, it cannot, without some important value judgements, be used to measure degrees of quality or uniformity. A second alternative is proposed in order to overcome the above limitation. The …
aggregated CHO: https://circle.library.ubc.ca/rest/handle/2429/37342
note: MEASURES OF THE QUALITY OF REAL PROPERTY ASSESSMENTS: AN EXAMINATION OF THEIR VALIDITY by Bernard I r v i n Ghert B . S c , M c G i l l U n i v e r s i t y , i960 A THESIS IN COMMERCE SUBMITTED TO THE FACULTY OF GRADUATE STUDIES IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION Me accept t h i s t h e s i s as conforming to the re q u i r e d standard THE UNIVERSITY OF BRITISH COLUMBIA December, 1965 In p r e s e n t i n g t h i s t h e s i s i n p a r t i a l f u l f i l m e n t o f t h e r e q u i r e m e n t s f o r a n a d v a n c e d d e g r e e a t t h e U n i v e r s i t y o f B r i t i s h C o l u m b i a , I a g r e e t h a t t h e L i b r a r y s h a l l m a k e i t f r e e l y a v a i l a b l e f o r r e f e r e n c e a n d s t u d y . I f u r t h e r a g r e e t h a t p e r -m i s s i o n f o r e x t e n s i v e c o p y i n g o f t h i s t h e s i s f o r s c h o l a r l y p u r p o s e s may be g r a n t e d by t h e H e a d o f my D e p a r t m e n t o r by h i s r e p r e s e n t a t i v e s . , I t i s u n d e r s t o o d t h a t c o p y i n g o r p u b l i -c a t i o n o f t h i s t h e s i s f o r f i n a n c i a l g a i n s h a l l n o t b e a l l o w e d w i t h o u t my w r i t t e n p e r m i s s i o n . D e p a r t m e n t o f C^^^^^^t- \f— (j^^^^a^>< & T h e U n i v e r s i t y o f B r i t i s h C o l u m b i a V a n c o u v e r 8, C a n a d a ABSTRACT The tax on r e a l property continues to be a major f a c t o r i n the f i s c a l s t r u c t u r e of municipal governments. Therefore, j u s t i c e d i c t a t e s that the impact of t h i s tax be d i s t r i b u t e d e q u i t a b l y , however " e q u i t a b l e " may be defined by the l e g i s l a t i v e a u t h o r i t y . This i s an a d m i n i s t r a t i v e problem. In many j u r i s d i c t i o n s the a d m i n i s t r a t i o n i s d i r e c t e d to d i s t r i b u t e the tax impact on an ad valorem b a s i s of current market…
has type: Thesis/Dissertation
is shown at: 10.14288/1.0102380
language: eng
degree discipline: Business Administration
provider: Vancouver : University of British Columbia Library
publisher: University of British Columbia
rights: For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use.
scholar level: Graduate
type: Text
identifier URI: http://hdl.handle.net/2429/37342