LAND APPRAISAL METHOD USING HYBRID MODEL FOR DETERMINATION OF SALES VALUE OF LAND TAX OBJECT (NJOPB)

• Main Author: (NIM 25106018), MUNAWAR
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/11007
• Institution: Institut Teknologi Bandung

The ordinary land appraisal method is sales comparison approach, which are multiplicative and linear additive models. The linear additive model is more proper to represents the supply side of the market (those are quantitave components), while multiplicative model is more suitable to represents the demand side of the market (those are qualitative components). The separate modeling for each variables (quantitave and qualitative) could be carry out by forming a single formula, the Hybrid model). Thus it requires a research about land appraisal method using Hybrid model in determination of NJOPB.<p>Modelling of land value using Hybrid model is executed by multistage multiple regression analysis, which are six stages. First is is to regress using linear additive model by entering all quantitative and qualitative variables (in dummies). Second Stage is to build actual scalar values of qualitative variables. On third stage, is to compare standard to actual scalar values, then adjust land value data. On fourth stage, is to regress using linear additive model, by including only significant quantitative variables. On fifth stage, is to build the Hybrid model by combining qualitative and quantitative components. And on sixth stage, is to regress using multiplicative model that consists of qualitatitave variables (in scalar values) and to correct actual scalar values.<p>By combining qualitative and quantitative components, is produced the empirical Hybrid model with equation = direction and lane's road 0,769 (1.543.204 + 165.128 LSD). The independent variables (those are distances and place of parcel), are proved not significant to form land values. Results of model validation show that COD and PRD values are 32,33% and 1,06, those do not fulfill the criteria of an operational and competent empirical model for determination of NJOPB. So do the distribution of ratio (ratio of estimated against observed values), not come near to normal distribution. <br />