Abstract
Computer Assisted Mass Appraisal (CAMA) is one of the technical foundations to the imposition of property tax at the moment in China. This paper first gives a comparative summary of traditional valuation approaches, which are the sales comparison approach, the income approach, and the cost approach. According to the characteristic of real estate in domestic and the availability of relevant basic data, it then presents an improved sales comparison approach, which combines hedonic price model with trading cases. The new approach is empirically tested by selecting second-hand house trading cases in City of Dongguan in China, and currently implemented in taxation bureaus in 11 provinces in China. The result shows that the proposed approach improves the accuracy of mass appraisal significantly compared with traditional sales comparison approach in China.
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