AccuriZ is a strategic partner with MJW Consulting, Inc., who provides extensive services regarding Market Trends, Statistical Stratification relating to the uniformity of assessments, and current trends in the real estate market. Forecasting future market appreciation or depreciation is based on Computer Assisted Mass Appraisal (CAMA), analysis of 10 year sale patterns and application of a properitary matrix valuation system. When trending, market factors are developed from actual property sales or other market analysis.

Additional elements considered in market analysis are usually based upon criteria such as property type, location, size and age. The resulting factors can then be applied to the properties with similar criteria within a specific municipality, assessing unit, or combination of assessing units to estimate market value.

Market trending is an appropriate valuation tool regardless of the size of the market. The key question is whether the values of the properties to which the trend is applied have changed uniformly and property data factors are consistent. Governmental data collected from jurisdictions who conduct annual reassessment or are on a cycle for reassessment provides for faster reaction and correction of values relative to the changing market, especially in instances of significant increases and decreases.

Collaborative efforts over a broader market area can result in Computer-Assisted Mass Appraisal (CAMA) models that can be applied to parcels in smaller assessing units to produce market estimates. In turn, the assessments and estimates could be used in ratio studies. These can be done in conjunction with other towns or vendors to develop more efficient programs to fulfill an assessing unit's requirements. The increase in maintenance aid should make this feasible from a financial perspective.

Systematic analysis is a methodical, thorough and regular examination of a municipality's assessments. In terms of annual reassessment, the following steps would be taken by the assessing unit:

       ...Gather and maintain inventory, valuation data and market information;

       ...Group the data appropriately, or as necessary for the parcels to be assessed;

Systematic analysis has been recognized by the IAAO as the most efficient way of evaluating assessments relative to the market. A municipality can determine whether to revise assessments only after it has undertaken a systematic analysis. Having an understanding of that analysis is an important way for ORPS to evaluate the results. For at least 60% of the assessing units in the State, there are insufficient sales to derive meaningful statistics to judge the overall results

To determine how Accuriz’s Consulting Services can meet your Individual, Business, or Governmental needs, please contact our Consulting Services group.