住宅用地估价的享乐、残差和匹配方法

IF 1.4 3区 经济学 Q3 ECONOMICS Journal of Housing Economics Pub Date : 2022-12-01 DOI:10.1016/j.jhe.2022.101870
Steven C. Bourassa , Martin Hoesli
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引用次数: 0

摘要

准确估计每一处房产的土地价值是有效实施以土地为基础的财产税的一项重要要求。我们使用来自亚利桑那州马里科帕县的数据,比较了住宅土地价值大规模评估的享乐、剩余和匹配技术。第一种方法涉及空地交易的享乐估价模型。第二种方法是从改进物业的价值中减去改进的折旧成本,以获得作为剩余的土地价值。第三种方法是将空置地块的销售与开发后的同一物业的后续销售相匹配。对于每一对,我们使用土地价格指数将土地价格膨胀到改善的房地产交易时间,然后计算土地杠杆(土地与房地产总价值的比率)。一个享乐模型被估计并用于预测所有改进物业的土地杠杆。我们得出结论,匹配方法是考虑的方法中最有希望的。
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Hedonic, residual, and matching methods for residential land valuation

Accurate estimates of land values on a property-by-property basis are an important requirement for the effective implementation of land-based property taxes. We compare hedonic, residual, and matching techniques for mass appraisal of residential land values, using data from Maricopa County, Arizona. The first method involves a hedonic valuation model estimated for transactions of vacant lots. The second approach subtracts the depreciated cost of improvements from the value of improved properties to obtain land value as a residual. The third approach matches the sales of vacant lots with subsequent sales of the same properties once they have been developed. For each pair, we use a land price index to inflate the land price to the time of the improved property transaction and then calculate land leverage (the ratio of land to total property value). A hedonic model is estimated and used to predict land leverage for all improved properties. We conclude that the matching approach is the most promising of the methods considered.

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来源期刊
CiteScore
3.30
自引率
4.20%
发文量
35
期刊介绍: The Journal of Housing Economics provides a focal point for the publication of economic research related to housing and encourages papers that bring to bear careful analytical technique on important housing-related questions. The journal covers the broad spectrum of topics and approaches that constitute housing economics, including analysis of important public policy issues.
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