Development of Statistical Models for Residential Property Assessment in Saskatoon
The Office of the City Assessor is required by the Cities Act to determine the fair value of land and improvements of single family dwellings by applying the residential sales comparison method. Thus, the intern will perform analysis to determine how major factors contribute to the values of properties using newly available data. Such analysis involves developing statistical models for major market areas in Saskatoon, preparing data for statistical analysis, estimation of models and evaluation the models’ performance based on statistical and economic plausibility. Finally, the developed models will be used to calculate fair values for all single family dwellings in Saskatoon.