Mass Appraisal

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MASS APPRAISAL Table of Content *1, Introduction……………………………………………………………..*1 2, Discussion………………………………………………………………2 2.1 Examining and testing Normality of the data…………………………………3 *2.2 Assessment on *the performance of an assessment*…*………………………4 2.2.1 Testing the level of appraisal for the assessment…………………………..5 2.2.2 Measures of variability…………………………………………………………5 2.2.3 Examining Assessment Bias…………………………………………….…….6 2.2.4 Kruskal Wallis test for within Submarket group equity…………………..….6 *3 Conclusion*………………………………………………………………7 4 Reference…………………………………………………………………8 1 Introduction The analyses will firstly using data set (camp2007fysales.xls) to examine and test the Normality of the data, and then the…show more content…
In a normal distribution the mean will be equal to the median, in a distribution skewed to the right, the mean will greater than the median. Conversely, in a distribution skewed to left, the mean will less than the median. In this case, the mean of Group 1 to 3 are all great than the median, which means the data skewed to the right. Only Whole LGA is different. In addition, the intervals for Whole LGA and Group3 are not lying within the acceptable level as indicating on the benchmark 0.9—1.1 which means the assessment value is too low. The median for each case is between 0.82 to 0.92 which is below the benchmark median ratio value 1. Therefore, we can determinate that the assessment value is undervaluing by comparing with the market selling price. The weighted mean ratio reflects the relationship of the total assessed value to the total market value of each subclass. It is useful for estimating the total market value of a population of properties. 2.2.2 Measures of variability The Coefficient of Dispersion (COD), the Coefficient of Concentration and the Coefficient of variation (COV) are important measures of the uniformity of the assessment. The result that we found, they are all in line with the benchmark which is less than 15.00, that indicating the uniformity of the assessment for each groups and whole LAG is acceptable. The standard deviation is a measure of variation around the mean. However, in ratio study, the larger the standard deviation
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