Features and Benefits of VaaS
What you need to know about the world’s highest performance property valuation ecosystem
Patent Protected Solution
Innovative Valuation Tree
Multiple Valuation Methods and Property Types
Open Source, Cloud Deployed
Traditional and Non-Traditional Data Sets
- Large quantities of data
- Data in any format and in any location
- Incomplete and/or low-quality data sets
- Non-typical data for property valuation:
- Property state and condition
- Sales transaction data from land registry
- Social media data
- Demographic data (age, religion, gender, etc.)
- Socioeconomic data (e.g., school ratings, crime statistics, traffic, weather, transportation)
- Unstructured data (free form text)
- Image data (property images)
- Spatial data (parcel fabrics)
- And more….
Exemplary Valuation Transparency
Because VaaS places a premium on maintaining exemplary data lineage, assessment jurisdictions can achieve a fully transparent valuation regime and produce rapid and comprehensive disclosure during the appeal or objection process. To be sure, a key factor for success in valuation is accurate data – whether it is state and condition data, property sales information, cost manual data or income and expense data – accurate information produces accurate valuations. But if your valuers cannot defend their valuations or substantiate the methods in which valuations were produced and the data utilized therein, then tax yield may be at risk. The transparency architected into VaaS allows your jurisdiction to expose all data associated with a valuation. If there are data errors, then these can be addressed and a new valuation produced. However, if the underlying data is sound and valuation methods are fully revealed, then taxpayers or their agents are forced to defend their appeal or requests using better information, which may not be possible. Ontario’s practice of exemplary valuation transparency, combined with MPAC’s business practices embodied in its Taxpayer Portal Access framework, have produced from 2012 to 2016 a 40% reduction in requests for reconsideration and formal appeals.
Commercial Client Portal Access
- Assessed Value Report
- Assessment Roll Report
- AVM Basic Residential Market Value Report
- AVM Enhanced Residential Market Value Report
- AVM Residential Comparable Report
- Basic Building Permit Report
- Business Property Owner Report
- Commercial / Industrial Basic Report
- Farm Property Report
- Four Year Phase-In Report
- Law Professional Report
- Legal Description Report
- Market Income Property Detail Level 1
- Market Income Property Detail Level 2
- Residential Detail Level 1 Report
- Residential Detail Level 2 Report
- Residential Floor Area Report
- Residential Primary Structure Report
- Residential Year Built Report
- Roll Number Report
- Valid Sales Report
A current capability of the VaaS ecosystem is a standing order solution, where we employ a robust scheduling engine which can be configured to automatically deliver valuation products to your customers as they require them.
Taxpayer Portal Access
Also in this open layer are informative, 3 to 5-minute video tutorials describing various aspects of valuation, including titles such as How MPAC Assesses Residential Properties, How Your Property Tax is Calculated, Understanding Phase-in, The Request for Reconsideration Process for Residential, Farm and Managed Forest Properties and more. The open, public access layer also includes written educational material on How Assessment Works, including how MPAC assesses various kinds of properties, how to understand a property assessment notice, how municipalities use property assessment information, what to do if you disagree with your assessment and frequently asked questions.
While www.aboutmyproperty.ca is deployed for MPAC’s needs in Ontario, the framework can be completely customized by Axilogic and MPAC for use in any assessment jurisdiction, including creating new written and video materials that meet local requirements and design considerations. As well www.aboutmyproperty.ca contains a second layer of information generated by VaaS, which is accessed through a confidential login procedure. On every Property Assessment Notice issued through the VaaS ecosystem, a unique Roll Number and Access Key is found. Using this information, visitors can register a User ID and Password which permits access to two important sets of information: information about their property, as well as information about their neighbourhood. See image 2.
Regarding their property, authenticated users can access current and historical property assessment notices for their property, download informative reports relevant to their specific property (such as a Methodology Guide, Market Valuation Report and Local Market Adjustment Report), as well as review detailed state and condition information about their property which formed the basis of their valuation. MPAC has found that by being fully transparent with property owners in the disclosure of state, condition and other relevant data, requests for reconsideration and appeals drop considerably.
If taxpayers identify any material errors or discrepancies in their state and condition data, working in collaboration with MPAC changes can be made and a new valuation generated, therefore avoiding the troublesome appeal or reconsideration process. Authenticated users can also access a rich array of information about their neighbourhood. Using simple to use mapping tools, users can select their property as well as others in their neighborhood, for which they can generate a custom neighbourhood market report comparing their property to others across an array of data attributes including current assessment values – See Image 3. This level of disclosure helps users understand how their value compares to other similar properties, which also has demonstrated its power in improving taxpayer satisfaction while reducing appeals and requests for reconsideration. Should the taxpayer not be satisfied with this information and still wish to invoke a request for reconsideration as is their right in Ontario, for residential, farm, and managed forest properties this can be lodged within the ABOUTMYPROPERTY framework. Taxpayers are required to provide summary details along with their reason(s) for why their valuation should be reconsidered. See Image 4.
Sophisticated Workflow Management
Comprehensive Reporting Facility
MyCart Comparable Property Toolset
Manual Adjustments and Overrides
AXILOGIC ASSESSMENT CORPORATION, 100 VIA RENZO DRIVE, SUITE 304, RICHMOND HILL, ON, CANADA, L4S 0B8
Axilogic Assessment Corporation is a proud member of Axilogic Group (www.axilogicgroup.com)