Efficient property value estimation for single-family homes in central Florida

© 2024 The Author(s). International Transactions in Operational Research published by John Wiley & Sons Ltd on behalf of International Federationof Operational Research Societies.This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, wh...

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Autores: Lozano Segura, Sebastián, Gutiérrez Moya, Ester, Klizentyte, Kotryna, Susaeta, Andrés
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2024
País:España
Institución:Universidad de Sevilla (US)
Repositorio:idUS. Depósito de Investigación de la Universidad de Sevilla
OAI Identifier:oai:idus.us.es:11441/163779
Acceso en línea:https://hdl.handle.net/11441/163779
https://doi.org/10.1111/itor.13565
Access Level:acceso abierto
Palabra clave:Residential property value
Local tax revenue
Tax burden fairness
Non-parametric metafrontier efficiency analysis
Free Disposal Hull (FDH)
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spelling Efficient property value estimation for single-family homes in central FloridaLozano Segura, SebastiánGutiérrez Moya, EsterKlizentyte, KotrynaSusaeta, AndrésResidential property valueLocal tax revenueTax burden fairnessNon-parametric metafrontier efficiency analysisFree Disposal Hull (FDH)© 2024 The Author(s). International Transactions in Operational Research published by John Wiley & Sons Ltd on behalf of International Federationof Operational Research Societies.This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, whichpermits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and nomodifications or adaptations are made.This paper proposes the use of a metafrontier efficiency analysis approach to estimate residential property val-ues. The objective is to mitigate inefficiencies in these valuations, thereby enhancing tax revenue and fairnessin tax burdens. Property features (such as acreage, living area, number of bedrooms, number of bathrooms,age, and pool presence) along with contextual variables (such as county and median household income)are utilized to estimate just market value. Observations can be grouped based on some of these variables,allowing a metafrontier analysis to be conducted. This analysis not only assesses efficiency scores but alsoidentifies technology gaps for each group. Furthermore, the proposed approach can be employed to estimatethe value of any property based on its characteristics. To illustrate the proposed approach, we utilize dataon over 30,000 properties in Orange and Seminole Counties in central Florida. Additionally, we present theresults of a robust regression approach for comparison purposes. While our approach can serve as a valuabletool across various sectors, its primary aim is to promote best practices in governance regarding land useand real estate valuation. This includes balancing multiple objectives such as tax revenue, economic growth,environmental sustainability, and social considerations.WileyOrganización Industrial y Gestión de Empresas ITEP216: Tecnologías de la Información e Ingeniería de OrganizaciónMinisterio de Ciencia e Innovación (MICIN). EspañaAgencia Estatal de Investigación. España2024info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://hdl.handle.net/11441/163779https://doi.org/10.1111/itor.13565reponame:idUS. Depósito de Investigación de la Universidad de Sevillainstname:Universidad de Sevilla (US)InglésInternational Transactions in Operational Research.PID2021-123515NB-I00https://onlinelibrary.wiley.com/doi/10.1111/itor.13565info:eu-repo/semantics/openAccessoai:idus.us.es:11441/1637792026-06-17T12:51:07Z
dc.title.none.fl_str_mv Efficient property value estimation for single-family homes in central Florida
title Efficient property value estimation for single-family homes in central Florida
spellingShingle Efficient property value estimation for single-family homes in central Florida
Lozano Segura, Sebastián
Residential property value
Local tax revenue
Tax burden fairness
Non-parametric metafrontier efficiency analysis
Free Disposal Hull (FDH)
title_short Efficient property value estimation for single-family homes in central Florida
title_full Efficient property value estimation for single-family homes in central Florida
title_fullStr Efficient property value estimation for single-family homes in central Florida
title_full_unstemmed Efficient property value estimation for single-family homes in central Florida
title_sort Efficient property value estimation for single-family homes in central Florida
dc.creator.none.fl_str_mv Lozano Segura, Sebastián
Gutiérrez Moya, Ester
Klizentyte, Kotryna
Susaeta, Andrés
author Lozano Segura, Sebastián
author_facet Lozano Segura, Sebastián
Gutiérrez Moya, Ester
Klizentyte, Kotryna
Susaeta, Andrés
author_role author
author2 Gutiérrez Moya, Ester
Klizentyte, Kotryna
Susaeta, Andrés
author2_role author
author
author
dc.contributor.none.fl_str_mv Organización Industrial y Gestión de Empresas I
TEP216: Tecnologías de la Información e Ingeniería de Organización
Ministerio de Ciencia e Innovación (MICIN). España
Agencia Estatal de Investigación. España
dc.subject.none.fl_str_mv Residential property value
Local tax revenue
Tax burden fairness
Non-parametric metafrontier efficiency analysis
Free Disposal Hull (FDH)
topic Residential property value
Local tax revenue
Tax burden fairness
Non-parametric metafrontier efficiency analysis
Free Disposal Hull (FDH)
description © 2024 The Author(s). International Transactions in Operational Research published by John Wiley & Sons Ltd on behalf of International Federationof Operational Research Societies.This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, whichpermits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and nomodifications or adaptations are made.
publishDate 2024
dc.date.none.fl_str_mv 2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/11441/163779
https://doi.org/10.1111/itor.13565
url https://hdl.handle.net/11441/163779
https://doi.org/10.1111/itor.13565
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv International Transactions in Operational Research.
PID2021-123515NB-I00
https://onlinelibrary.wiley.com/doi/10.1111/itor.13565
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Wiley
publisher.none.fl_str_mv Wiley
dc.source.none.fl_str_mv reponame:idUS. Depósito de Investigación de la Universidad de Sevilla
instname:Universidad de Sevilla (US)
instname_str Universidad de Sevilla (US)
reponame_str idUS. Depósito de Investigación de la Universidad de Sevilla
collection idUS. Depósito de Investigación de la Universidad de Sevilla
repository.name.fl_str_mv
repository.mail.fl_str_mv
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