The International Association of Assessing Officers' Standard on Ratio Studies states that jurisdictions should not be mandated to reappraise unless the ratio study indicates failure to meet ...uniformity standards with an appropriate degree of statistical confidence. This implies that one must calculate confidence intervals about the calculated COD or conduct related tests to determine whether required standards have been met. Unfortunately, there are no published formulas for calculating confidence intervals for the COD, and the only method cited in the appraisal literature for doing so is the complex, computer-intensive bootstrap method. This paper evaluates the dilemma and proposes a simple, realistic test for determining whether COD standards have been achieved.
Choosing the best measure of central tendency is a common concern in ratio studies. The issue of whether the median or weighted mean is likely to prove better for indirect equalization over the long ...run in terms of accuracy and stability across a variety of assessment jurisdictions, or whether an alternative or hybrid measure may be preferred is addressed. Using actual assessment and sales data, this issue is analyzed for small to mid-size jurisdictions, where the issue is of paramount concern, through a series of simulation studies. The median-weighted mean and the square root-weighted mean are introduced as alternatives and analyzed using 6 hypothetical jurisdictions constructed from actual sales data.
The city of Edmonton's transition to market value assessment was initiated in 1997 with preliminary assessments based on market value mailed to taxpayers in November, 1998. Prior condominium ...valuation in the City of Edmonton had no direct basis in market value. Shortly after initiation of the market value reassessment project in 1997, it became apparent that property attribute data would have to be re-collected and field-verified for the entire inventory. This article summarizes the development of Edmonton's market-based assessment system for residential condominiums, discusses some specific valuation issues, summarizes recent model results, and presents a valuation model for a prototype market area.
Perhaps the most important technical development in assessment administration in recent years has been the application of multiple regression analysis. The technique offers an effective means of ...reappraising the large majority of single family residences each year or so at low costs per parcel. This paper addresses the issue of how to evaluate properly the accuracy or reliability of such models. Copyright American Real Estate and Urban Economics Association.
Vacant land and small industrial properties can be valued under the sales comparison approach through the use of multiple regression analysis (MRA). Each of the models discussed in this article meet ...international ratio study standards as outlined by IAAO. Furthermore, vacant industrial land and small industrial properties can be valued in a single analysis using a hybrid model calibrated through the use of nonlinear regression.
Establishment of a nitrogen-fixing root nodule is accompanied by a developmentally regulated expression of nodulin genes, only some of which, the so-called early nodulin genes, are expressed in ...stages proceeding actual nitrogen fixation. The authors have isolated soybean cDNA clones representing early nodulin genes and have studied clone pENOD2 in detail. The cDNA insert of this clone hybridizes to nodule specific RNA of 1200 nucleotides in length. The RNA that was hybrid-selected by the cloned ENOD2 DNA was in vitro translated to produce two nodulins with an apparent M sub(r) of 75,000, the N-75 nodulins. These two nodulins differ slightly in charge and one does not contain methionine. The genes encoding the N-75 nodulins were found to be expressed in nodule-like structures devoid of intracellular bacteria and infection threads, indicating that these nodulins do not function in the infection process but more likely function in nodule morphogenesis.
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