Analysis Of The Hedonic Price Model In The Mass Appraisal For The Basement Of Property Tax

Since 2003, Beijing, Liaoning, Jiangsu, Shenzhen, Ningxia, Chongqing, Anhui, Henan, Fujian, Dalian and so on 10 provinces and cities become " the experiment sites which will take real estate tax." Everybody today take attention on the appraisal of property tax. Overseas, mass appraisal has already become the first choice to appraise the basement of property tax. Although, the scholars and the actual workers in china have gradually introduced the mass appraisal system overseas, taken research and practice with the national condition in China, many people don't understand it very well because many objective or subjective reasons. This article takes the research of hedonic price model as a breakthrough point, quantifies the factors which will affect the price of house, and carries on the theory of hedonic price model which will be used in the mass appraisal, analysis and explanation to the application and process of the technology to make the persons who relate to the proper tax have further understanding in the theory of mass appraisal and the applied technology.Mass appraisal which used to appraise the basement of property tax at present is mainly made by the market theory, cost theory, and income theory which are the three appraisal essential principle. The hedonic price method can work out the characters of Goods to the price of Goods which is well used in foreign. Real estate as a typical heterogeneity commodity, there are many differences between every character which make up the use value in the product.This article analyses and summers the history and the present situation about mass appraisal and hedonic price model in domestic and foreign first. Secondly, combing the development of hedonic price model and the basement of hedonic price theory, summers the choices of characters in conducting the hedonic price model, and establishes the theory of how to take a hedonic price model in mass appraisal for the appraising of property tax.At last, with investigating the houses in Xiamen and conformity of license material data, choosing certain characters of house, simulates the factor analysis of characters and estimates four kinds of model forms, carries out the empirical analysis the hedonic model in mass appraisal which is used to appraisal the basement of the property tax.