INTERNATIONAL CITY/COUNTY MANAGEMENT ASSOCIATION (ICMA)
Report on market-based land and property assessment project -- Yerevan, Armenia
This report describes a small project implemented in mid-1997 to analyze the market for apartment properties in Yerevan, Armenia, evaluate the usefulness of modern computer-assisted mass appraisal (CAMA) methods in estimating market values, and determine the feasibility of taxing property in Armenia on the basis of market value.
Almy, Richard; Gloudemans, Robert · 1997
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Abstract
The researchers concluded that the housing market was behaving predictably and that CAMA methods could be used to estimate market values. Multiple regression analysis was used to calibrate multiplicative price models that were as powerful as those used in other countries in property taxation. From this, the researchers concluded that market value could be the basis for property taxation. Moreover, market value would be superior to the current artificial cadastral value basis. Taxes would be more equitably distributed, and the tax base would be more buoyant. The report identifies the main issues in converting to a market value basis for property taxation. (Author abstract)
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