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Abstract
Analysis of the "Comparable Sales Algorithm"
Track: Cadastral and Land Records
Author(s): Manish I Bhatt
Defining issue: The comparable sales approach is a standard technique used by property assessors/appraisers to justify or derive a fair market value of a subject property. Traditionally this is done by manually researching recent sales around the subject property and finding the sales most comparable to the subject and ranking them based on the amount of adjustments applied. GIS solution: The Orange County Property Appraiser's Office in Florida has successfully automated this task by implementing a GIS solution to model this highly subjective method of finding comparable sales. The author proposes to analyze the algorithm that selects the three best comparable sales, applies adjustments, and creates a report.
Manish I Bhatt
Orange County Property Appraiser's Office
200 S. Orange Ave. ## 1700
Orlando, FL 32801
USA
Phone: 407 836 5021
E-mail: mbhatt@ocpafl.org