42 Once an adequate sample survey has been completed and had favorable
public review, the result can be used throughout the total area. These sample data results could be used to estimate the comparative markets of each land site. To
ensure the optimal and equitable use of land sites, land assessments should reflect the attitudes of the individuals who can make the highest and best use of the site,
who would be willing to pay more than individuals with inferior uses in mind. Neither requiring nor willing to pay the land taxes for a superior site will use
another site that match the needs, desire and budget, thus making it available for others who can pay for the better site.
h. Periodic Updating of Assessments
Land market values tend to increase each year at a rate usually greater than inflation. Building values tend to decline each year, because of a wearing out of
the physical structure or its functional desirability. If assessments are not maintained on a regular basis annually land will become greatly under-assessed
and buildings will be over-assessed in only a few years.
4.2.3. Transaction Value
The transaction value according to PBB, it is determining the value from accumulation of all properties inside of the parcel such as land itself, building,
utility telephone, power line, gas, etc, trees, fence, and the other assets. This is already verifying by analog data analysis that has the relationship with the
transaction data value as the following table:
43
Table 3. Transaction Value from PBB
TRANSACTION VALUE
LAND SIZE
NJOP of LAND
BUILDING SIZE
NJOP of BUILDING
NJOP STATISTICS
27,100,000 60 243,000
21 595,000
27,075,000 Greater than 139,691,000
128 802,000 45
823,000 139,691,000 Equal
299,260,000 250 802,000
120 823,000
299,260,000 Equal 299,260,000
250 802,000 120
823,000 299,260,000 Equal
121,245,000 105 802,000
45 823,000
121,245,000 Equal 141,484,000
121 802,000 54
823,000 141,484,000 Equal
288,480,000 180 916,000
103 1,200,000
288,480,000 Equal 30,900,000
300 103,000 -
- 30,900,000 Equal 188,500,000
250 394,000 -
- 98,500,000 Greater then 251,405,350
63 1,416,000 128
2,200,000 370,808,000 Less than
206,125,000 50 1,032,000
100 1,200,000
171,600,000 Greater then 239,000,000
144 1,032,000 76
1,200,000 239,808,000 Less than
239,808,000 144 1,032,000
76 1,200,000
239,808,000 Equal
150 records
Statistics:
Greater than 45
30 Equal
69 47
Less Than 35
23 Total
149 100
The information from table and statistic explained that the transaction value from PBB is the value of property. The transaction value is consisting of the
value of land and also the value of building. This information represent that the transaction value equal with the NJOP is 47. Greater than is 30, it shows that
44 the transaction value not yet include of the other value of properties like building,
plantation, the ownership, etc. Another perception, this is indicate that there is political strategy to decrease the value of the object in order to get low tax price
and there is the ability to pay. NJOP of Land in Table 3 describes as the data reference for the expert to
appraise the norm value of the land zone. Based on the statistic analysis above not each NJOP of the land can be used, it is only equal and less then value can
directly used. For the statistic analysis that has the greater than value, it has to be more analyzed, for instance it is only for the data that has the different not more
then 10 can be used.
4.2.4. Properties
