Towards an International Data Standard for Immovable Property Valuation

Abdullah Kara, Volkan Çağdaş, Ümit Işıkdağ, P.J.M. van Oosterom, Christiaan Lemmen, Erik Stubkjær

    Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

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    Abstract

    Immovable property valuation is performed by public sector actors for several land management activities, such as property taxation, expropriation or compulsory purchase of land, land re-adjustment and land consolidation; and private sector actors perform valuation for purchase, real estate financing, investment analysis, and further property transactions. The valuation process returns estimated value (e.g. market value) of property units based on their legal, physical, geographic, economic, and environmental characteristics, as recorded at public registries or observed on location. The ISO 19152:2012 Land Administration Domain Model (LADM) presents a conceptual schema for the specification of property units and their legal and geometric characteristics recorded at cadaster and land register, and relates these datasets with other property related datasets (e.g., valuation, taxation, land use, land cover) recorded at external databases. A recently initiated collaborative research (see Çağdaş, 2016) aims at developing a data model for one of these external databases, in terms of a Valuation Module for the ISO 19152:2012 LADM which is supposed to define semantics of valuation databases maintained by public authorities especially for immovable property taxation. The present paper presents preliminary results of this initiative, and describes a draft version of the Valuation Module which specifies the input and output data used and produced when single or mass appraisal processes are performed according to published standards and recommendations. It also presents a questionnaire which was prepared to create an inventory of valuation applications all over the world, and will be used as source data for the elaboration of the draft module. The paper also opens a discussion about this initiative, and calls for contributions of other relevant bodies (e.g. FIG, OGC, TEGOVA, IVSC and IAAO) for the further development of the draft Valuation Module.
    Original languageEnglish
    Title of host publicationProceedings FIG Working Week 2017
    Subtitle of host publicationSurveying the world of tomorrow – From digitalization to augmented reality
    EditorsPekka Halme
    PublisherInternational Federation of Surveyors (FIG)
    Number of pages31
    ISBN (Print)978-87-92853-61-5
    Publication statusPublished - 2017
    EventFIG Working Week 2017 - Helsinki, Finland
    Duration: 29 May 20172 Jun 2017

    Conference

    ConferenceFIG Working Week 2017
    CountryFinland
    CityHelsinki
    Period29/05/172/06/17

    Keywords

    • Immovable Property Valuation
    • SO 19152:2012 Land Administration Domain Model (LADM)
    • LADM Valuation Module

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