Structure-conduct-performance model of rateable value Variance in Kwara State, Nigeria

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dc.contributor.authorAtilola, Moses Idowu
dc.date.accessioned2023-08-13T00:28:37Z
dc.date.available2023-08-13T00:28:37Z
dc.date.issued2018
dc.descriptionThesis (PhD.)
dc.description.abstractVariance in rateable values denotes the differences in the valuation estimates of two or more assessors for the same property. Valuation is the heart of rating administration in providing a fair means for establishing the rateable values. However, when the assessed rateable values are characterised by wide variances and an unfair means was used in resolving the variance, the essence of valuation in property rating administration would not be achieved. Previous studies on causes of valuation variance have concentrated on non-statutory valuation, without paying attention to statutory valuation. Several techniques have been used to investigate valuation variance. These techniques are not only inconsistent, but have not reected the true denition of variance. This could lead to lack of fairness in resolving disputes arising from rateable value variances. This study aims at identifying the causes of variance in rateable values and establishing a fair means of benchmarking valuation variance. Purposive sampling and convergent mixed methods were used to elicit information from Registered Valuers in Kwara State, Nigeria. The data collection in the quantitative approach was done through a questionnaire survey among 33 valuers, and was analysed using descriptive statistics, relative importance index, and margin of variance. The qualitative data were obtained from document review and interview with eight valuers and analysed with content analysis. Findings showed that valuers' characteristics, legal factors, valuation environment and process factors, and lack of uniformity in valuation input variables, are the causes of variances in rateable values. Margin of variance technique was identied as the appropriate method of determining variance, and +10% was considered appropriate. The computation of the margin of variance must however be done in a consistent way that reflects fairness. The result on the causes of variance in rateable values and a fair means of benchmarking valuation variance was used to develop the structure-conduct-performance (SCP) model. The study recommends that the Local Government Tenement Rates Law No.4 of 2006 should be amended to enhance uniformity and fairness in the SCP model. The contribution of the study include the provision of information to rating valuation stakeholders on causes of variance in rateable values, and determination of a fair means of establishing variance, which could enhance the preparation of valuation lists.
dc.description.sponsorshipFaculty of Geoinformation and Real Estate
dc.identifier.urihttp://openscience.utm.my/handle/123456789/549
dc.language.isoen
dc.publisherUniversiti Teknologi Malaysia
dc.subjectReal property--Valuation
dc.subjectValuation
dc.titleStructure-conduct-performance model of rateable value Variance in Kwara State, Nigeria
dc.typeThesis
dc.typeDataset
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