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| The Methodology of Housing Value
Assessment: An Analysis Author: William A. Donnelly Start Page: 1. Abstract: The application of
multiple regression analysis is illustrated as a means of addressing the goals of
consistency and equity in assessment and in attaining the modeler's objective of
parsimony. This is accomplished by presenting examples using data maintained by a local
assessor's office. The issue of whether a linear model formulation suffices for such
purposes is discussed, and the conclusion is that the extra time and effort required for
nonlinear estimation may not provide sufficient improvement in predictive accuracy to
warrant its application. The regression technique and the modeling strategy used to
construct the forecast confidence interval can be implemented easily in an electronic
spreadsheet on a microcomputer. |
