Value Models

The value models used for Jefferson County are the result of many MRA iterations. We review the data on a countywide basis to review market trends. We also review the value models used in previous reappraisals for trends and consistency. This global model can then be used as a reference when specific neighborhoods don't have many sales. Each economic area and property type (single-family, townhome, condominium, duplex) have different value models. Before values are finalized, we review each neighborhood for uniqueness, which isn't considered with the economic area value model. We test for statistical compliance and equitable valuation. Overall, the goal is to provide a value model that best reflects market value, which is why the value calculated for a property does not always match its sale price.