AUTOMATED VALUATION MODELS OF REAL STATE FOR CADASTRAL PURPOSES

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


SYSTEMOUTDATE AND

STATIC

Reasons for the reform process

LOW QUALITY OF VALUATIONS

INEQUALITY OF REAL ESTATE

TAXATION SYSTEM


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


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


BUILDINGS

Sub-systemsSub-systems

RURALLANDS

THE VALUATION

SYSTEM

The new valuation system: requirements

BUILDINGLOTS


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


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


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)


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


Testing objectives

TESTING

ENFORCEABILITYENFORCEABILITY

COVERAGECOVERAGE

QUALITY/COSTSQUALITY/COSTS

TIMETIME

IN ORDERTO VERIFY


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


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


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


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


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


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


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


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


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


CZ = CZ = XX11………....X………....XMM

CZ = CZ = XX11………....X………....XMM

AA BB CC DD


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


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


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%.


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


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


Technical characters of the building


Civil building

1,5-1,6

1,6-2

40 - 50

Positional characters of the neighbourhood


Technical characters of

the unit

Technical characters of

the unit



+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


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


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



CZ = CZ = XX11………....X………....XMM

CZ = CZ = XX11………....X………....XMM

AA BB CC DD


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


UNIT

FLOOR LEVEL

FLOOR LEVEL AREA CLASSAREA CLASS

IMMOVABLE UNIT

Innovative evaluation procedures: ordinary units


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)


UNIT


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

… …… …


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


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


Check of the model – Results Extension Segment R1

to be verifiedto be verified

Increase >300%Increase >300%

250%< increase < 300%250%< increase < 300%




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


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)



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



DYNAMISM(perfecting)DYNAMISM(perfecting)

+20%

+10%Agerage value

Civil building

1,5-1,6

1,6-2

Positional characters of zone



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



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


The supposed system updating

schedule

Years

Cadastral

Values

2 – 4years

2 – 4years

2 – 4years

8 -10 years

INTERIMUPDATING

(PARTIAL REVIEW)

GENERALREVIEW

GENERALREVIEW


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


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


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

AUTOMATED VALUATION MODELS OF REAL STATE FOR CADASTRAL PURPOSES

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