BC Assessment Explores Innovative Geospatial 3D Modelling for Property Assessment
VANCOUVER – BC Assessment has signed an agreement with Esri Canada, a provider of enterprise geographic information system (GIS) technology, to pilot the company’s prototype of Assessment Analyst 3D, the world’s first geospatial 3D assessment analysis solution. This technology allows appraisers to conduct detailed valuations of condominiums, commercial buildings and individual units using 3D geoprocessing and analytics from their desktop.
“We are a company committed to innovation that benefits our customers and strengthens our operations. Therefore, we are very pleased to be the first property assessment organization in the world to pilot Esri Canada’s new and innovative 3D modelling solution,” said Hart Mauritz, BC Assessment’s Vice President of Business Innovation.
“In the Vancouver Sea to Sky assessment region, we have over 120,000 residential strata units,” said Jason Grant, Assessor for Vancouver Sea to Sky Region. “It is challenging to physically inspect this property type for assessment purposes. We hope that the 3D modelling solution from Esri Canada will enable us to further enhance the accuracy of our property data and increase our operational efficiencies.”
When determining assessed values, BC Assessment appraisers analyze timely real estate sales transactions to find comparable properties. In addition, they consider a property’s unique characteristics such as location, age, condition, size and view. Having a current inventory base is vital to the process. Discrepancies between the assessed value and the sale price of a property can arise, as it is impractical to physically inspect every single unit in a building for inventory verification purposes. Complex 3D models of strata buildings allow appraisers to visually analyze the effects of some key drivers of value, such as view and floor height, on a unit-to-unit basis, without having to leave the office. Appraisers can also use this tool to audit and correct data discrepancies, leading to more precise assessments.
“Integrating 3D visualization and spatial analysis into property assessment workflows increases the accuracy of valuations and facilitates the discovery of missing or incorrect property data. This pilot project with BC Assessment is an important first step in revolutionizing property assessment practices throughout the industry," said Michael Lomax, Director of Assessment for Esri Canada.
Assessment Analyst 3D is based on Esri’s ArcGIS technology, the world’s leading GIS platform. It integrates GIS with Computer-Assisted Mass Appraisal (CAMA) systems, resulting in a powerful Geographic-Assisted Mass Appraisal (GAMA) solution. It has the potential to save time and increase accuracy by allowing appraisers to make calculations, run valuation models and reassess properties using valuable visual tools while reducing the requirement to physically inspect properties.
BC Assessment is an independent, provincial Crown corporation trusted to provide accurate and uniform property assessments on an annual basis for nearly two million British Columbia properties with a total value of over $1.14 trillion. BC Assessment serves all British Columbian property owners as well as over 325 taxing jurisdictions. Its annual assessment roll provides the foundation for more than $6.2 billion in property taxes each year that fund important community services including the public school system. Of note, 2014 marks BC Assessment’s 40th anniversary providing forty years of value to B.C. For more information, go to www.bcassessment.ca. Follow BC Assessment on Twitter, YouTube, Facebook, and LinkedIn.
About Esri Canada
Founded in 1984, Esri Canada provides enterprise geographic information system (GIS) solutions that empower businesses, governments and educational institutions to make timely, informed and mission-critical decisions by leveraging the power of geography. The company distributes the world's leading GIS software from Esri, Schneider Electric, Cityworks – Azteca Systems, Inc. and other technology partners. Headquartered in Toronto, the company serves over 10,000 customers from 16 regional offices across Canada. Esri Canada has joined the elite rank of Canada’s Best Managed companies and has been named to the Branham300. Information about the company can be found at esri.ca. Follow Esri Canada on Twitter, Facebook, YouTube and LinkedIn.