ABSTRACT
This chapter examines the history and evolution of Computer Assisted Valuation (CAV) techniques in Tasmania including the development of a hybrid regression model to accommodate heterogeneous market groups. It provides a Case Study showing the application of the Proportionality Model. The Office of the Valuer-General (OVG) exists under provisions of the Land Valuation Act 1971 to provide Tasmania with a centralized rating and taxing valuation service for State and Local Government. The OVG and Commissioner of Taxes have had a close relationship in respect to property taxation which led to the joint development of a computer system in the early 1980s. Government downsizing in the 1980s led to the Valuer-General developing a CAV programme in 1986, with the intention of using advanced technology to aid the revaluation of properties. The Office of the Valuer General currently uses the following models for CAV programmes: simple linear regression; multiple linear regression; base home; matrices; and proportionality model.
