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Transcript of Antonio de Santis - Santiago de Compostela October 2006 AUTOMATED VALUATION MODELS OF REAL STATE FOR...
Antonio de Santis - Santiago de CompostelaOctober 2006
AUTOMATED VALUATION MODELS OF REAL STATE FOR CADASTRAL PURPOSES
Reform of the Italian cadastral Reform of the Italian cadastral valuation system:valuation system:
regulations, analysis and testingregulations, analysis and testing
Reform of the Italian cadastral Reform of the Italian cadastral valuation system:valuation system:
regulations, analysis and testingregulations, analysis and testing
Santiago de Compostela, October 20th 2006
Antonio de Santis - Santiago de CompostelaOctober 2006
SYSTEMOUTDATE AND
STATIC
Reasons for the reform process
LOW QUALITY OF VALUATIONS
INEQUALITY OF REAL ESTATE
TAXATION SYSTEM
Antonio de Santis - Santiago de CompostelaOctober 2006
TRASPARENCY
DYNAMISM
EFFICIENCY
CR
EA
TIO
N O
F A
NEW
C
AD
AS
TR
AL V
ALU
ATIO
N
SY
STEM
GENERAL PURPOSES SPECIFIC PURPOSESOBJECTIVE
EQUITY OF REAL ESTATE
TAXATION
LAND PLANNING AND
MANAGMENT
TRASPARENCY OF REAL ESTATE
MARKET
The new valuation system: requirements
Antonio de Santis - Santiago de CompostelaOctober 2006
SUB-SYSTEMS DISTINCTIVE ELEMENTS
BUILDING CAPACITY
BUILDINGS
RURAL LANDS
BUILDING LOTS
BUILDING AND REAL ESTATE UNIT CHARACTERS
TECHNICAL AND PRODUCTIVE CHARACTERS
THREE SUBSYSTEMS TO DEVELOP AND IMPROVE,STARTING FROM THE BUILDINGS CADASTRE
PO
SIT
ION
AL
CH
AR
AC
TER
S
The new valuation system: structure
Antonio de Santis - Santiago de CompostelaOctober 2006
BUILDINGS
Sub-systemsSub-systems
RURALLANDS
THE VALUATION
SYSTEM
The new valuation system: requirements
BUILDINGLOTS
Antonio de Santis - Santiago de CompostelaOctober 2006
INTERNATIONAL
FROM THE EXPERIENCES ALREADY CARRIED OUT IN OTHER COUNTRIES
FROM THE DEVELOPMENT OF THE BRANCHES OF VALUATION
THE REFORM PROJECT SEIZES AND EXPLOITS THE
OPPORTUNITIES CURRENTLY OFFERED AT LEVEL:
NATIONALAND A SHARED
LAND INFORMATION SYSTEM
FROM THE USE OF COMPUTERIZED AND ON-LINE ADVANCED TOOLS
The new valuation system: informing principles
Antonio de Santis - Santiago de CompostelaOctober 2006
REFORM (not review)
VALUES
STRUCTURE OF THE SYSTEM ADAPTABLE AND BASED ON VALUES AND INCOMES
INNOVATIVE METHODS DIFFERENT DIVERSIFIED FOR EACH ANALIZED
SUBSYSTEM AND BASED ON MATHEMATICAL/STATISTICAL MODELS
CAP RATE
CAP RATE INCOMESINCOMES
The new valuation system: primary legislative choices
Antonio de Santis - Santiago de CompostelaOctober 2006
MARKET CONDITION ENFORCEABLEVALUATION PROCEDURE
Large number of market data
possibility to create an
appropriate statistical sample
Econometric procedures
(regression models, etc.)
Econometric procedures
(regression models, etc.)
Innovative valuation procedures: possible approaches
Short number of market data
Impossibility to create an
appropriate statistical sample
Market Comparison ApproachMarket Comparison Approach
Inadequate real estate transfer data
Availability of adequate rent data, in case of dynamic rent market
Financial proceduresFinancial procedures
Inadequate real estatesale and rent data
Availability of price data for the areas
Real estate reconstruction value
(net … value)
Real estate reconstruction value
(net … value)
Antonio de Santis - Santiago de CompostelaOctober 2006
Real estate groupsAreasAreas
AREAS IN WHICH THE USE OF ALTERNATIVE VALUATION PROCEDURES
IS PREVALENT (DEPRECIATED RECONTRUCTION VALUE AND/OR VALUE BASED ON CAPITALIZATION OF INCOME)
AREAS OF POSSIBLE USE OF ECONOMETRIC PROCEDURES
(STATISTICAL REGRESSION MODELS, ….)
RESIDENTIAL OFFICESHOP WAREHAUSEBOX LABORATORY
INDUSTRYCINEMA
BARRACKSBOARDING SCHOOLMUSEUM, SCHOOL
units(Millions) 50 millions
(nearly)
1,5 millions (nearly)
Critical case linked to the market short dynamis, that requires the use of alternative valuation procedures
6 ~ 40
Preliminary check: enforceability
Antonio de Santis - Santiago de CompostelaOctober 2006
Testing objectives
TESTING
ENFORCEABILITYENFORCEABILITY
COVERAGECOVERAGE
QUALITY/COSTSQUALITY/COSTS
TIMETIME
IN ORDERTO VERIFY
Antonio de Santis - Santiago de CompostelaOctober 2006
Positional Positional characterscharacters
of the of the neighbourhoodneighbourhood
Technical Technical characters of characters of the buildingthe building
Technical Technical characters of characters of
the unitthe unit
Positional Positional characters of characters of
zonezone
+20%
+10%Valore medio
Civil building
1,5-1,6
1,6-2
M
Municipality zone
B
A
Neighbour. coef.Neighbour. coef.
Building coef.Building coef.
Unit coef.Unit coef.
Average valueAverage value xx xxxx xxzone coef.
zone coef. V=V= xx
AA BB CC DD
Conceptual model: residential
General model of function for real estate valuationGeneral model of function for real estate valuation
Antonio de Santis - Santiago de CompostelaOctober 2006
relative position in the zone, specific relative position in the zone, specific
characters of the neighbourhoodcharacters of the neighbourhood
Gro
up
s o
f ch
ara
cte
rsG
rou
ps o
f ch
ara
cte
rsG
rou
ps o
f ch
ara
cte
rsG
rou
ps o
f ch
ara
cte
rs
IMP
OR
TA
NT T
EC
HN
ICA
L P
AR
AM
ETER
S
IMP
OR
TA
NT T
EC
HN
ICA
L P
AR
AM
ETER
S
IMP
OR
TA
NT T
EC
HN
ICA
L P
AR
AM
ETER
S
IMP
OR
TA
NT T
EC
HN
ICA
L P
AR
AM
ETER
S
Historical or modern buildingHistorical or modern building Building maintenanceBuilding maintenance Building typologyBuilding typology Structural typologyStructural typology Building equipment Building equipment Building trimmingsBuilding trimmings Size of common portionsSize of common portions
Class of area Class of area Level (with or without lift)Level (with or without lift) Predominant overlooking Predominant overlooking Rationality of rooms distribution in the unitRationality of rooms distribution in the unit Trimmings and equipment Trimmings and equipment (if different from the building)(if different from the building)
Unit state Unit state (if different from the building)(if different from the building)
Parametri tecnici
Town centre, valuable zone, …Town centre, valuable zone, …
(with reference to the municipality)(with reference to the municipality)POSITIONAL CHARACTERSPOSITIONAL CHARACTERS
OF ZONEOF ZONEPOSITIONAL CHARACTERSPOSITIONAL CHARACTERS
OF ZONEOF ZONEAA
POSITIONAL CHARACTERSPOSITIONAL CHARACTERS OF THE NEIGHBOURHOODOF THE NEIGHBOURHOODPOSITIONAL CHARACTERSPOSITIONAL CHARACTERS OF THE NEIGHBOURHOODOF THE NEIGHBOURHOODBB
TECHNICAL TECHNICAL CHARACTERSCHARACTERS
OF THE BUILDINGOF THE BUILDING
TECHNICAL TECHNICAL CHARACTERSCHARACTERS
OF THE BUILDINGOF THE BUILDINGCC
TECHNICALTECHNICAL CHARACTERSCHARACTERS OF THE UNITOF THE UNIT
TECHNICALTECHNICAL CHARACTERSCHARACTERS OF THE UNITOF THE UNIT
DD
Antonio de Santis - Santiago de CompostelaOctober 2006
Number ofNumber of processedprocessed functionsfunctions
Number of analysed parametersNumber of analysed parameters
Approximate representation Approximate representation of the optimisation area about of the optimisation area about the relationship between the the relationship between the number of functions and the number of functions and the number of parametersnumber of parameters
Vi = ƒ (A;B;C;D)
Optimization of quality / costs ratio
Antonio de Santis - Santiago de CompostelaOctober 2006
Technical characters of the units
Positional characters of the buildings
neighbourhood
(BESIDES THE AREA AND AVAILABLE OTHER-ONES) THE USE OF ADDICTIONAL TECHNICAL DATA, WHICH DESCRIBE THE UNIT, GENERATES A CONSIDERABLE
INCREASE OF COSTS. THIS INCREASE IS NOT PROPORZIONATE TO THE IMPROVEMENT OF THE QUALITY OF THE EVALUATION.
(BESIDES THE AREA AND AVAILABLE OTHER-ONES) THE USE OF ADDICTIONAL TECHNICAL DATA, WHICH DESCRIBE THE UNIT, GENERATES A CONSIDERABLE
INCREASE OF COSTS. THIS INCREASE IS NOT PROPORZIONATE TO THE IMPROVEMENT OF THE QUALITY OF THE EVALUATION.
Quality of the Evaluation(Q)
Costs(C)
Positional zone characters
CONFIRMATIONS FROM THE TESTING ACTIVITY
Optimization of quality / costs ratio
Antonio de Santis - Santiago de CompostelaOctober 2006
FOR EACH GEOPRAPHICAL AREA OF THE TESTING ACTIVITY THERE IS A LOCAL WORKING TEAM. ALL THE LOCAL TEAMS ARE
COORDINATED BY A TASK-FORCE AT CENTRAL LEVEL
FOR EACH GEOPRAPHICAL AREA OF THE TESTING ACTIVITY THERE IS A LOCAL WORKING TEAM. ALL THE LOCAL TEAMS ARE
COORDINATED BY A TASK-FORCE AT CENTRAL LEVEL
Genova
Firenze
Cagliari
Napoli
Siracusa
L'Aquila
MilanoNovaraTorino
BellunoPordenone
Bologna
Ancona
Terni
Roma Campobasso
PotenzaTaranto
Catanzaro
Aosta
20PROVINCIES
20PROVINCIES
40 MUNICIPALITIES
40 MUNICIPALITIES
100ZONES100
ZONES
10.000BUILDINGS
10.000BUILDINGS
100.000IMMOVABLE UNITS
100.000IMMOVABLE UNITS
The geographical areas of the testing activity
The testing activity about the building sub - system
Antonio de Santis - Santiago de CompostelaOctober 2006
R1/R2 = RESIDENZIAL O MIXED UNITSR4= GARAGEST1= SHOPST2= WAREHOUSEST7= OFFICES
SPECIAL9%
ORDINARY91%91%
Asset0
20%
40%
60%
80%
100%
The analysed real estate asset
The whole real estate asset
R152%
R2
3%
R4
23%
T1
T2
9%
T7
9%
3%
THE TESTING ACTIVITY HAS BEEN EXTENDED ON CATEGORIES (GROUPS), WHICH REPRESENT THE 91% OF THE WHOLE REAL ESTATE ASSET
Antonio de Santis - Santiago de CompostelaOctober 2006
VALUES VALUES
The workflow of the supposed process
≈≈
≈≈
INCOMESINCOMES
Market Values
Ordinary Incomes
CAP-RATECAP-RATE
INNOVATIVE EVALUATION PROCEDURES
INNOVATIVE EVALUATION PROCEDURES
Determination of value/income through standardized and computerized procedures with the support of
mathematical-statistical techniques
TYPOLOGICFUNCTIONAL SEGMENTS
TYPOLOGICFUNCTIONAL SEGMENTS
ZONESZONESGEOGRAPHICSEGMENTS
GEOGRAPHICSEGMENTS
CADASTRALCATEGORIES
CADASTRALCATEGORIES
TECHNICALPARAMETERS
TECHNICALPARAMETERS
In each zone determination of the driver parameters: neighbourhood
characters, building and urban real estate units characters
Antonio de Santis - Santiago de CompostelaOctober 2006
11
22 33
44
55
66
88
60
4O
7O 75
5O
85
7O
100
77
Geographical subdivision
Subdivision of the Municipal circumscription in homogeneous areas (zones)
10
0
40
PARAMETRIC SCALE OF THE POSITIONAL FACTOR
( zone factor ambit factor)
ZONES
A ± B
Antonio de Santis - Santiago de CompostelaOctober 2006
Statistical and mathematical procedures
The evaluation function, which is checked for each The evaluation function, which is checked for each tyological-functional grouptyological-functional group
The first testing activities involved from 10 to 15 parametersThe first testing activities involved from 10 to 15 parameters
V= b0 * 1 * x2 * x 3 * x 4 * ………………………. * xn-2 * xn-1 * xn
CN = CN = XXM+1M+1………...X………...XII
CN = CN = XXM+1M+1………...X………...XII
CB = CB = xxI+1I+1………..x………..xFF
CB = CB = xxI+1I+1………..x………..xFF
CU =CU =xxF+1F+1……….x……….xUU
CU =CU =xxF+1F+1……….x……….xUU
CZ = CZ = XX11………....X………....XMM
CZ = CZ = XX11………....X………....XMM
AA BB CC DD
Antonio de Santis - Santiago de CompostelaOctober 2006
Segmentazione funzionale - tipologica
Commercial
• Shops and similar real estate units•Sheds, warehouses, workshops and similar real estate units•Buildings and other real estate units for sport activities•Guesthouses•multi-storey car park, car park in specific areas or in buildings, for public use
Offices• Offices, work-rooms and similar real estate units
Productive
•Real estate units for productive activities•Real estate units for productive activities related to Agriculture•Real estate unit for mixed commercial activities and service industry activities•Real estate units for mixed service industry and office districts activities
Residential
•Real estate units in buildings for residential use and for mixed destinations•Real estate units included in villas and cottages Typical real estate units of a place or region•Sheltered parking places, not sheltered parking places in private areas, boxes
BUILDINGS
Antonio de Santis - Santiago de CompostelaOctober 2006
More appropriate function,on the basis of the tests
Innovative valuation procedures: the regression
MULTIPARAMETERS REGRESSION
MAKES IT POSSIBLE TO CALCULATE THE REAL ESTATE VALUE V (dependent variable) IN RELATION WITH THE TECHNICAL CHARACTERS xi, HAVING i=1,2,…,n (independent variables), WITH DIFFERENT RELATIONS:
LinearLinear
Exponential in Exponential in the coefficientsthe coefficients
Exponential in Exponential in the variablesthe variables
V = c0 + m1 * Y1+ …+ mn * Yn
VV = b= b0 *0 * y y1 1 bb1 1
** y y2 2 bb22
** ….. ….. ** y ynn bbnn
V = b0 * b1 y1 * b2 y2
* … * bnyn
Antonio de Santis - Santiago de CompostelaOctober 2006
R1-Res. UnitsR1-Res. Units T1-ShopsT1-Shops R4-GaragesR4-Garages T7-OfficesT7-Offices
8%8% 8%8%
6%6%
7%7%
0
2
4
6
8
10%
% o
f b
uild
ing
s,
% o
f b
uild
ing
s,
wh
ich
Err
or
is h
igh
er
than
20%
wh
ich
Err
or
is h
igh
er
than
20%
Max error Max error meansmeans 27%27% 23%23% 23%23% 24%24%
The statistical sampling has involved about 100 zones, which The statistical sampling has involved about 100 zones, which are composed by 10.000 buildings, which characteristics are composed by 10.000 buildings, which characteristics have been surveyed.have been surveyed.
Results has been extended to 100.000 real estate units.Results has been extended to 100.000 real estate units.
The testing activity: quality of results
Buildings with a percentage error higher than the “acceptable level” Buildings with a percentage error higher than the “acceptable level” (20%) are less than 10%. However the average error is lower than 30%.(20%) are less than 10%. However the average error is lower than 30%.
Antonio de Santis - Santiago de CompostelaOctober 2006
Less than 10% of the buildings shows an error above 20%, with an average Less than 10% of the buildings shows an error above 20%, with an average maximum error of 27%maximum error of 27%
Total buildings of the analysed samples = 1.792 that statistically Total buildings of the analysed samples = 1.792 that statistically represent 1/30 of 53.460 buildings in the D.B. and 268.800 units (1/150)represent 1/30 of 53.460 buildings in the D.B. and 268.800 units (1/150)
Total buildings of the analysed samples = 1.792 that statistically Total buildings of the analysed samples = 1.792 that statistically represent 1/30 of 53.460 buildings in the D.B. and 268.800 units (1/150)represent 1/30 of 53.460 buildings in the D.B. and 268.800 units (1/150)
Analysed buildingsAnalysed buildings
Error>20Error>20%% Error betweenError between20% and 10%20% and 10%
Error <10%Error <10% Total buildingsTotal buildings
8%8%
26%26%
66%66% 100%100%
0
20
40
60
80
100%
AverageAveragemaximummaximum errorserrors 27%27% 14%14% 5%5%
Verification of the model: results for the segment R1- residential
Antonio de Santis - Santiago de CompostelaOctober 2006
Zone
35%35%
appreciationNeighbourhood
MaintenanceBuildingtypology
Historical ormodern period
Constructiontypology
Other
80%80% 85%80%
45%
10%
30%
0
20
40
60
80
100%
• On average the regressions use 4 parameters (3 related to the building + 1 On average the regressions use 4 parameters (3 related to the building + 1 related to the neighbourhood)related to the neighbourhood)
• In 35% of cases the parameter “zone appreciation” was used, too,In 35% of cases the parameter “zone appreciation” was used, too,in aggregation casesin aggregation cases
Frequency
Verification of the model: results for the segment R1- residential
Antonio de Santis - Santiago de CompostelaOctober 2006
Technical characters of the building
Technical characters of the building
Civil building
1,5-1,6
1,6-2
40 - 50
Positional characters of the neighbourhood
Positional characters of the neighbourhood
Technical characters of
the unit
Technical characters of
the unit
Positional zone characters
Positional zone characters
+20%
+10%Average value
M
MUNICIPALITYZONE
B
A
100
80/85
65
50
Qu
alit
yC
ost
s
10 - 15
20 - 25
100
3,3 – 5,0 2,5 – 3,2 1,8 – 2,0 0,15 Q/C
Quality average indicators in relation with the typologies and the number of the used technical parameters
Costs average indicators in relation with the typologies and the number of the surveyed technical parameters (on the spot, especially for the C and D characters)
A B C D
Innovative evaluation procedures: quality-costs relation
Antonio de Santis - Santiago de CompostelaOctober 2006
I.U. ordinary for size and floor
level
-
+
The methodology determined for ordinary units and buildings makes it The methodology determined for ordinary units and buildings makes it possible possible to reduceto reduce the number of evaluation functions to be elaborated the number of evaluation functions to be elaborated
and buildings to be surveyed, as well as to limit the survey to the and buildings to be surveyed, as well as to limit the survey to the neighbourhood and building parametersneighbourhood and building parameters
Civil buildingNEIGHBOURHOODNEIGHBOURHOOD BUILDINGBUILDING ORDINARY I.U. ORDINARY I.U.
The model – simplified methodology
Antonio de Santis - Santiago de CompostelaOctober 2006
Mathematical - statistical procedures
The evaluation function under examinationThe evaluation function under examination
V= b0 * 1 * x2 * x 3 * x 4 * ………………………. * xn-2 * xn-1 * xn
CN = CN = XXM+1M+1………...X………...XII
CN = CN = XXM+1M+1………...X………...XII
CB =CB =xxI+1I+1………..x………..xFF
CB =CB =xxI+1I+1………..x………..xFF
CU =CU =xxF+1F+1……….x……….xUU
CU =CU =xxF+1F+1……….x……….xUU
CZ = CZ = XX11………....X………....XMM
CZ = CZ = XX11………....X………....XMM
AA BB CC DD
Antonio de Santis - Santiago de CompostelaOctober 2006
A great part of the real estate can be evaluated through standard regressive procedures
BUILDING
IMMOVABLE UNITStandard characters
STANDARD BUILDING(with regression)
STANDARD BUILDING(with regression)
STANDARD CHARACTERS OF THE
UNIT
STANDARD CHARACTERS OF THE
UNIT
FLOOR LEVEL
FLOOR LEVEL AREA CLASSAREA CLASS
IMMOVABLE UNIT
Innovative evaluation procedures: ordinary units
Antonio de Santis - Santiago de CompostelaOctober 2006
The residual real estate can be evaluated through specific adjustment coefficients at building and unit level
BUILDING
IMMOVABLE UNIT
Standard characters
Non-standard characters
STANDARD BUILDING (with regression)
STANDARD BUILDING (with regression)
STANDARD CHARACTERS OF THE
UNIT
STANDARD CHARACTERS OF THE
UNIT
FLOOR LEVEL
FLOOR LEVEL AREA CLASSAREA CLASS
IMMOVABLE UNIT
Innovative evaluation procedures: not ordinary units (special)
UNIT ADJUSTMENT CHARACTERS
UNIT ADJUSTMENT CHARACTERS
NET INTERNAL HEIGHT
NET INTERNAL HEIGHT
PREVAILING EXPOSURE
PREVAILING EXPOSURE
BUILDING ADJUSTMENT CHARACTERS
BUILDING ADJUSTMENT CHARACTERS
… …… …
Antonio de Santis - Santiago de CompostelaOctober 2006
From a value basis to a rental one
CENTRE SUBURBS
Unitary market price (Euro/sq)
Unitary rental income (Euro/(sq month)
Location
Currency / cap-rate
CAP-RATE
Surveyedcap-rate
Calculated cap-rate
Antonio de Santis - Santiago de CompostelaOctober 2006
CHECK OF THE SYSTEM CORRESPONDENCE WITH
REQUIREMENTS OF:
FISCAL EQUITY
SIMPLICITY AND TRANSPARENCY
EFFICIENCY AND DYNAMISM
PROGRESSIVE IMPROVEMENT
Correspondence of the new system with the purposesand requirements
Antonio de Santis - Santiago de CompostelaOctober 2006
Check of the model – Results Extension Segment R1
to be verifiedto be verified
Increase >300%Increase >300%
250%< increase < 300%250%< increase < 300%
200%< increase < 250%200%< increase < 250%
150%< increase < 200%150%< increase < 200%
100%< increase < 150%100%< increase < 150%
increase < 100%increase < 100%
The current relevant inequalities in the system in force would be overcome, through the correlation of the new values with the market values, with an allowance of 20%, normal for mass valuations.
FISCAL EQUITYFISCAL EQUITY
Genova
Firenze
Selargius
Napoli
MilanoTorino
Pordenone
Spoleto
Roma Campobasso
Potenza
Aosta
Sorrento
CaCaVALUE INCREASE COMPARED WITH
THE CURRENT ONE
Antonio de Santis - Santiago de CompostelaOctober 2006
EASINESS AND TRASPARENCYEASINESS AND TRASPARENCY
VVu u = b= b0 *0 * y y1 1 bb1 1
** y y2 2 bb22
** ….. ….. ** y ynn bbnn
VVu u = (= (preference price for smpreference price for sm) ) ** C C1 *1 * C C22 ** ….. ….. ** C Cnn
VVTOT TOT = V= Vuu ** area area
where where C Cii = y = yi i bibi
C1, C2,……., Cn are coefficients that qualify the importance of the characters identified for that specific real estate unit
(positional characters, building characters, unit characters)
Correspondence of the new system with the purposesand requirements
Antonio de Santis - Santiago de CompostelaOctober 2006
EFFICIENCY(effectiveness)
SIMPLIFICATIONSIMPLIFICATION
(CARRIED OUT)(CARRIED OUT)
ZONEZONEZONEZONE
FOCUS ON BUILDINGFOCUS ON BUILDINGFOCUS ON BUILDINGFOCUS ON BUILDING
USE OF THE UNIT TECHNICAL USE OF THE UNIT TECHNICAL CHARACTERS AVAILABLE IN THE CHARACTERS AVAILABLE IN THE
CADASTRAL DATA BASECADASTRAL DATA BASE
USE OF THE UNIT TECHNICAL USE OF THE UNIT TECHNICAL CHARACTERS AVAILABLE IN THE CHARACTERS AVAILABLE IN THE
CADASTRAL DATA BASECADASTRAL DATA BASE
UNIFICATION OF CHARACTERSUNIFICATION OF CHARACTERSUNIFICATION OF CHARACTERSUNIFICATION OF CHARACTERS
BESIDES FOR THE SYSTEM DYNAMISMBESIDES FOR THE SYSTEM DYNAMISM
PROGRESSIVENESSPROGRESSIVENESSPROGRESSIVENESSPROGRESSIVENESSCOSTSCOSTS
REDUCTIONREDUCTION
The identified methodology for the ordinary real estate units allows to reduce the number of The identified methodology for the ordinary real estate units allows to reduce the number of valuation functions to be elaborated, and the number of building to be surveyed, as well as valuation functions to be elaborated, and the number of building to be surveyed, as well as
restrict the survey of the positional characters of the neighbourhood and the technical restrict the survey of the positional characters of the neighbourhood and the technical characters of the building, with important reduction of the implementation costs characters of the building, with important reduction of the implementation costs
Correspondence of the new system with the purposesand requirements
Antonio de Santis - Santiago de CompostelaOctober 2006
DYNAMISM(perfecting)DYNAMISM(perfecting)
+20%
+10%Agerage value
Civil building
1,5-1,6
1,6-2
Positional characters of zone
Positional characters of the neighbourhood
Technical characters of the building
Techncial characters of
the unit
M
MUNICIPALITY ZONE
B
A
Changes of the reference values prevalently owing to a public
intervention
UPDATING EX OFFICIO
New buildings and changes of builbing characters owing to a private
intervention
UPDATING THROUGH OWNER DECLARATION/STATEMENT
PROGRESSIVE IMPROVEMENTPROGRESSIVE IMPROVEMENT
Correspondence of the new system with the purposesand requirements
Antonio de Santis - Santiago de CompostelaOctober 2006
The quality of the new system depends on the number and quality of information related both to the unit than to the local market performance
Urban and Urban and rural territoryrural territory
INTEGRATED LAND INFORMATION SYSTEMSINTEGRATED LAND INFORMATION SYSTEMS
CadastralCadastraldata basedata base
New cadastral New cadastral valuesvalues
New cadastral New cadastral valuesvalues
Technical Technical datadata
Technical Technical datadata
Economic Economic datadata
Economic Economic datadata
NEW
METHODOLOGIES
Real Estate Real Estate market market observatoryobservatory
CREATIONCREATIONCREATIONCREATION
CREATIONCREATIONCREATIONCREATION
Antonio de Santis - Santiago de CompostelaOctober 2006
The supposed system updating
schedule
Years
Cadastral
Values
2 – 4years
2 – 4years
2 – 4years
8 -10 years
INTERIMUPDATING
(PARTIAL REVIEW)
GENERALREVIEW
GENERALREVIEW
Antonio de Santis - Santiago de CompostelaOctober 2006
Actors and roles in the reform process
AGENZIA DEL TERRITORIO
AGENZIA DEL TERRITORIO MUNICIPALITIESMUNICIPALITIES COMMITTEES
FOR TAXABLE REAL ESTATE
COMMITTEESFOR TAXABLE REAL ESTATE
DEFINITION OF RULES AND METHODS FOR IMPLEMENTATION
DEFINITION OF RULES AND METHODS FOR IMPLEMENTATION
ZONE DETERMINING(BOUDARIES AND
STARTING VALUES)
ZONE DETERMINING(BOUDARIES AND
STARTING VALUES)
DETERMINATION OF VALUATION FUNCTIONS
DETERMINATION OF VALUATION FUNCTIONS
DATA BASE AND L.I.S. CREATION (IN
COOPERATION WITH LOCAL AUTHORITIES)
DATA BASE AND L.I.S. CREATION (IN
COOPERATION WITH LOCAL AUTHORITIES)
PROCESSES QUALITY AND UNIFORMITY
PROCESSES QUALITY AND UNIFORMITY
ACTIVITY COORDINATIONACTIVITY COORDINATION
Actors and rolesActors and roles
OPERATING PLAN OPERATING PLAN
ZONE DETERMINING (BOUNDARIES AND RUNNING VALUES)
ZONE DETERMINING (BOUNDARIES AND RUNNING VALUES)
PRELIMINARY PHASES SUPPORT
PRELIMINARY PHASES SUPPORT
OPERATING PHASES FOR THE PROCESSEXTENSION
OPERATING PHASES FOR THE PROCESSEXTENSION
L.I.S MANAGMENTAND UPDATING
L.I.S MANAGMENTAND UPDATING
VALUATIONS APPROVAL AND EQUALIZATION
VALUATIONS APPROVAL AND EQUALIZATION
FIRST LEVEL OF THE FISCAL CASES
FIRST LEVEL OF THE FISCAL CASES
Antonio de Santis - Santiago de CompostelaOctober 2006
ECONOMIC DATA (SURVEY, INTEGRATION, AND QUALITY IMPROVEMENT)
TECHNICAL-POLITICAL CHOICE OF THEFUNDAMENTAL PRINCIPLES AND LINES
IN-DEPT VERIFY OF TECHNICAL AND ECONOMIC FEASIBILITY OF THE ADOPTED METHODOLOGICAL
METHODS
TECHNICAL DATA(INTEGRATION AND QUALITY IMPROVEMENT)
IDENTIFICATION OF AN ADEQUATE LEVEL OF QUALITY WITH SELF-IMPROVEMENT PROCESSES
DURING THE OPERATION
IDENTIFICATION OF THE COOPERATION MODES BETWEEN CADASTRAL AGENCY AND LOCAL
AUTHORITIES IN ORDER TO PERFORM AN EFFICIENT LAND ADMINISTRATION
MES
SA
GES
Final messages
Antonio de Santis - Santiago de CompostelaOctober 2006
Thank youThank youfor your kind attentionfor your kind attention
Thank youThank youfor your kind attentionfor your kind attention
Antonio de Santis
Agenzia del TerritorioCentral Director
for the Technical Development and the International Relations