Abstract
This study focuses on analyzing the vertical equity of the assessed value for multi-owned commercial properties in Seoul through various methods after understanding the level of the assessment. The gap in the assessment level among properties within one building is widely spread, showing the severe inequity in the assessed value. Neighborhood facilities and shopping malls show regressivity for nearly all of the analysis models except for the Kochin and Parks model in the shopping mall, which tends to show progressivity. Regressivity is observed for the entire model from the first basement level to the eighth floor, whereas for the second basement level, consistent progressivity is found across the entire model, except for the Gini model. In addition to progressivity in the Gini model for the elevator, escalator, and basic-style store, the entire property characteristics of the commercial properties show regressivity all the way through. This research has implications in improving the current estimation system of the assessed value for multi-owned commercial properties by considering horizontal property characteristics or adjusting the factor of floor to be the actual level of price between floors.
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