Transcript Kadastrālā vērtēšana Latvijā

Automated Valuation
Models for Mass Valuation
Purpose in Latvia
Workshop On Automated Valuation Models Of
Real Estate For Cadastre Purposes,
Santiago de Compostela, Spain
October 19-20; 2006
General Data
Geography:
Location: Eastern Europe, bordering the Baltic Sea, between
Estonia and Lithuania.
Area: 64 100 sq. km. (25 640 sq. mi.)
Terrain: Fertile low-lying plains predominate in central Latvia,
highlands in Vidzeme and Latgale to the east, and hilly moraine
in the western Kurzeme region. Forests cover one-third of the
country, with over 3 000 small lakes and numerous bogs.
People:
Nationality: Latvian's.
Population: 2.33 million.
Capital:
Riga (740 000)
Other Cities:
Daugavpils (113 000);
Liepaja (87 000);
Jelgava (66 000);
Jurmala (55 000);
Ventspils (44 000);
Rezekne (38 000).
State Real Estate Cadastre Information
System (Cadastre)
 Number of objects in Cadastre (on 01.09.2006):
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Real property objects:
 land units ~ 950 000
 constructions ~ 1 350 100
 groups of premises ~ 1 652 400
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Real estate:
 land estate (land with buildings incl.) ~ 676 000
 building estate (land for rent) ~ 37 800
 apartment properties ~ 532 500
Development of Mass (Cadastral)
Valuation in Latvia (1)
 After restitution of independence (1990), enforcement
of land reform took place in Latvia:
 main tasks of land reform – restitution of property
rights (for real owners and their inheritors);
 restitution of property rights has constitute ground
for development of land valuation principles.
 Until the year 1994 – cadastral valuation (agricultural
land) and inventory of buildings and structures
(replacement of building costs) has based on
formerly applied approaches (valuation methods).
 From the year 1994 – introduction of new, on the
market data based approach for valuation of urban
land (land value zonings).
Development of Mass (Cadastral)
Valuation in Latvia (2)
 In 1997 – first mass valuation took place for the
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purpose of real property taxation.
From the year 1998 Law “On Real Property Tax”
became into force, and mass valuation procedure
obtained obligatory status.
In the year 2000 – valuation of buildings took place for
cadastral valuation purposes.
Until the year 2006 – updating of cadastral values take
place for municipal units (towns and rural
municipalities) and groups of objects of valuation (land,
buildings).
From the year 2006 Law “On Cadastre” became in to
force for regulation of Cadastre system, included
cadastral valuation (first law on Cadastre after gaining
of independence and starting point for transition period
of existed cadastral valuation system).
Legal Framework
 Cadastral (mass) valuation:
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Law “On Cadastre" – into force since January 1st,
2006;
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Regulations of Cabinet of Ministers “Regulations
on Cadastral Valuation” – Regulations # 305; April
18th ; 2006.
Procedures
 Procedure of cadastral valuation:
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State Land Service (SLS) – responsible institution
for cadastral valuation of real property
(development of value zonings and determination
of indexes of cadastral value basis – base values
and correction coefficients);
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Cabinet of Ministers – conforms value zonings and
cadastral valuation indexes;
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SLS – automated valuation according data of
Cadastre (all registered objects).
Work Organization (SLS)
 Organization of procedures take place in three levels:
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Central unit – development of methodic and models,
analysis of market data (for all country), participation in
development of cadastral valuation indexes,
management of cadastral valuation process in general;
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Regional centers (8) – coordination of cadastral
valuation process in local level (bureaus);
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Bureaus (28) – development of value zonings (local
administrative units) and participation in the
development of cadastral valuation indexes.
Software
 Collection and processing of market data – special
program on the platform of Oracle:
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for data collection – online processing transactions
data base (OLTP);
for data processing – online analytical processing data
base (OLAP), Oracle Discoverer.
 For statistic processing of data – “Statistical Package
for the Social Sciences” (SPSS).
 For testing of indexes of cadastral valuation – special
software on the Oracle platform; for data processing
– OLAP data base, Oracle Discoverer.
 Automated valuation of objects – all models are
integrated in Cadastre System (special software, on
the Oracle platform).
Development and Testing of Valuation
Models
 Determination of characteristic data of valuation
objects which theoretically have impact on value
according comparable (similar) objects in Cadastre
System;
 Creation of experimental model of valuation;
 Determination impact of used factors according
methods of statistic analysis;
 Testing of cadastral valuation indexes (basic values,
correction coefficients etc.);
 Regular testing of cadastral valuation indexes (take
place after valuation of all objects).
Determination of Indexes for the Purpose of
Cadastral Valuation until the year 2006
 Development of cadastral valuation indexes and
value zonings took place for all groups of valuation
objects within administrative units (urban and rural).
 Problems:
 cadastral valuation indexes and value zonings are
developed for particular municipalities and whole state
is not treated in the same time:
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unequal situation between municipalities;
discrepancy with real estate market.
cadastral valuation indexes of land and building are
developed not in the same time;
special development proposal is needed – prescribed
procedure;
municipalities have wide possibilities to affect results –
procedure of conforming.
Determination of Indexes for the Purpose of
Cadastral Valuation after the year 2006
 Regular (each 4th year) determination of
cadastral valuation indexes take place for
specific valuation objects (type of property) in the
same time for land and buildings:
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For rural properties – development of zonings of agricultural
land and forest land – on the first time in the year 2007;
Residential properties – development of residential properties
zonings – on the first time in the year 2007;
Industrial type of property – development of industrial properties
zonings (as well as determination of indexes for engineering
structures) – on the first time in the year 2008;
Commercial and public property – development of commercial
properties zonings – on the first time in the year 2009.
 Estimation of real estate market correction
coefficients will take place after two year time
period for each developed value zoning (other
indexes will remain unchanged).
Methods of Valuation
 To determinate indexes for cadastral
valuation purposes are used internationally
well-known methods of valuation:
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Sales comparison method –
the most applicable method – for valuation of land for
construction and agricultural properties; as well as for
development of cadastral valuation basis for building
cadastral valuation;
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Income (capitalization) approach –
for development of cadastral valuation basis of forest land;
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Coast approach method –
for development of cadastral valuation basic values of
buildings and engineering structures.
Applicable Information
 For development of indexes of cadastral
valuation and value zonings:
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Real estate market data (sales and rent information,
construction costs, supply and demands, market trends and
activity);
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Undirected information – main factors of impact on sales
prices (on the basis of market data analysis);
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Local territorial plans and detail plans, other information
regarding infrastructure development;
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Information of legal acts (borders of preservation areas,
nature preservation areas);
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For mutual comparison of municipalities – social economic
information of the specific municipality, statistics –
unemployment, number of economic active population,
demographic data etc.
Application of Market Information
 Regular updating of data base (actual information):
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real estate market data from Land Book Register (legal
agreements);
characteristic data from Cadastre System.
 All developments – based on the real estate market
information (for the time period no less than 2 years).
 Selection of data for development of cadastral
valuation indexes:
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mathematic approach – for separation of untypical data;
individual approach – manual evaluation of data and
comparison of data with accessible information.
Object of Valuation
 Land – according use of the land:
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Land for construction purpose – 9 groups, incl.:
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Land for single residential houses;
Land for multilevel residential buildings;
Land for construction of commercial objects;
Land for industrial objects.
Rural (agricultural) land – 3 groups, incl.:
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Agricultural (arable) land;
Forest land;
Land under waters.
 Buildings – 105 types of buildings (9 groups);
 Engineering Structures – 703 types (89 groups);
 Real property.
Land for Construction (1)
 Main factors of valuation of land for the
construction purpose:
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Land area (m2);
Location (in the country, with in borders of
municipality);
Restrictions of land use;
Use of real property (land use type).
Land for Construction (2)
 Algorithm (formula) for calculation of
cadastral value:
Kv   (Bv PLM  K samaz  KT ) K apgr  K P
Kv – cadastral value (in Latvia's currency, lats; Ls);
Bv – basic value of land for construction use (Ls/m2);
PLM – area of land use type (m2);
Ksamaz – correction coefficient of area;
KT – market correction coefficient;
Kapg – correction coefficient of impact of restrictions;
Kp – correction coefficient of pollution.
Land Value Level of Residential Land in
Riga (Capital City of Latvia)
Agricultural and Forest Land (1)
 Main factors of valuation of agricultural and
forest land:
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Land area (ha);
Location (in the country, with in borders of municipality);
Restrictions of land use;
Land use type;
Division of land use types (with in limits of the property);
Quality of agricultural land (natural fertility, amelioration,
conditions for mechanic cultivation);
Quality of forest land (type of natural growth – natural fertility,
wetness)
Possibilities of construction of buildings (or existed
buildings).
Agricultural and Forest Land (2)
 Algorithm (formula) for calculation of
cadastral value:
Kv  ( PLIZ  Bvliz  PM  BvM  (0.2  PP _ Z  PP*_ D ) *
*
* BvLIZ
 b  C maja )  K apgr  K p  K T
Kv – cadastral value (in Ls);
PLIZ – area of arable land (in ha);
Bvliz – basic value for agricultural land (Ls/ha);
PM – area of forest land (ha);
BvM – basic value for agricultural land (Ls/ha);
PP_Z – area of other land (in ha);
P*P_D – land under ponds and yards (in hectares);
Bv*LIZ – basic value of fertility of land (within limit of 3 groups); (Ls/ha);
b – indication regarding residential housing;
b = 1 – if there is one residential building;
b = 0 – if there are no constructions;
Cmaja – constant coefficient of housing impact;
Kapg – correction coefficient of restrictions;
Kp – correction coefficient of pollution;
KT – market correction coefficient.
Land Value Levels of Agricultural Land
Land Value Level of Forest Land
Buildings (1)
 Main factors of valuation of buildings:
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Size (m2; m3);
Location (in the country, with in limits of
municipality);
Restrictions of use;
Type of building;
Physical conditions.
Buildings (2)
 Algorithm (formula) for calculation of
cadastral value:
ĒKV  ĒBv  A KS  Kkor  Kli  KT
ĒKV – cadastral value (in Ls);
ĒBv – basic value for type of building (regarding size
of building);
A – size of building (in m2 or m3);
KS – correction coefficient of physical condition of
building;
Kkor – correction coefficient of size impact;
Kli – correction coefficient of restriction impact;
KT – market correction coefficient.
Land Value Level of Residential
Buildings
Engineering Structures (1)
 Main factors of valuation of engineering
structures:
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Size;
Location (in the country; with in limit of
municipality);
Type of engineering structure;
Physical condition.
Engineering Structures (2)
 Algorithm (formula) for calculation of
cadastral value:
IBKV  (IBBv  A  K S ) KT
IBKV – cadastral value (in Ls);
IBBv – basic value for the type of engineering
structure;
A – size parameter;
KS – correction coefficient of physical condition
KT – market correction coefficient.
Real Property
 Cadastral value of real property can be
estimated as a sum of cadastral values of
related objects (land, located buildings and
engineering structures).
 Cadastral value of apartment can be
estimated as a proportional part from sum of
cadastral values of building, land under
building and related functional buildings.
Accessibility of Information
 Value zonings and indexes of cadastral value
basis of all municipal units are accessible in
website of SLS www.vzd.gov.lv.
Application of Cadastral Value
 For real property taxation (main task);
 For stamp fees (Land Book fee, inheritance
fee etc.);
 For land rent (in cases of enforced rent);
 For privatization of land under constructions;
 For rent of unprivatized rural state and
municipal land;
 For estimation of value of comparable land;
 For enforcement of land reform (estimation of
number of vouchers).
Future Development
 Improvement of graphic data of value zoning maps (for the
purpose of automatic zoning updating) –
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In present automated zoning updating take place once
a year (other time manual work);
 Digitization of fertility maps (agricultural land) – development of
data basis –
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In present all actions are manual;
 Improvement of valuation model of residential houses
(additional characteristics – well equipped, etc) –
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In present there are some empty windows in Cadastre
(no information or registration is not completely done).
 Improvement of graphic information of market data (automatic
maps of transactions) –
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In present all market data maps are manual.
Thank You for attention!
Questions please!
Martins Lazdovskis
[email protected]
[email protected]
www.vzd.gov.lv