Real Property Equity

Our office is very excited with new Realware software that will greatly enhance our ability to deliver better equity in assessments and to be able to show that equity of assessment values in a single glance. The software is called Matix and is included in our new valuation program (Realware). Matix illustrates values through colors.

An example is below, showing a neighborhood of residences and their per square foot above grade values...as the value climbs, the color darkens, showing which properties are assessed less or more.

In the example, the appraiser merely has to determine whether there is good reason for the differences: quality, differences in square feet, additional improvements, a larger lot OR the inverse: smaller lot, less area. Once the appraiser has verified any reasons for these darker and lighter parcels, all parties can see the equity of the neighborhood assessment values in a flash!

What is Equity?

Equity is a measure of consistency in the valuation of real property. The ultimate goal is to have the same level of assessment regardless of use or geographic boundaries. This does not mean that every property should have a similar value. Rather, each property should be assessed at a similar proportion in relation to its actual market value.