Maximize taxable revenue with location intelligence
Oct 2024
By using location intelligence, government property assessors can accurately determine the fair market value of properties and ensure that all taxable activity is accounted for, resulting in more taxable revenue.
Oct 2024
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For government property assessment departments, field visits have traditionally been a necessary but time-consuming part of the job. Property assessors often spend countless hours visiting sites to gather information, verify changes, and ensure accurate valuations. But in today’s budget-conscious environment, relying solely on fieldwork can create inefficiencies, increase costs, and slow down the assessment process.
That’s where location intelligence comes in. Powered by high-resolution, frequently updated aerial imagery, location intelligence enables assessors to perform detailed property assessments from the office, dramatically reducing the need for field visits.
Spot new construction
One of the biggest challenges for assessors is identifying new taxable items that arise from new construction, additions, or modifications to properties. These changes are often difficult to track, especially if they occur between field visits or during periods of rapid growth in a community.
With frequently updated aerial insights, assessors can view high-resolution images of properties several times a year. This allows them to identify changes and improvements — such as a new pool, building addition, deck, shed, and more — quickly and efficiently. Instead of waiting for a physical inspection or relying on self-reported changes, location intelligence gives assessors the ability to spot taxable improvements from the office.
Maximize revenue
In some cases, property owners may not report improvements that should increase their property tax. These unreported or unauthorized changes can create revenue gaps for local governments. Historical imagery helps assessors track property changes over time by comparing past and current surveys. This includes leaf on/off captures to get a clear picture of the property.
Having past and present imagery makes it easy to spot unauthorized construction or property modifications that may have been missed during routine inspections. And a comprehensive view of changes allows assessors to capture additional taxable revenue and ensure that property owners are paying their fair share.
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Defend assessments
Taxpayer appeals are a common part of the property assessment process, but they can be time-consuming and costly for governments to resolve. Location intelligence equips assessors with the tools to defend property valuations using clear, up-to-date imagery as visual evidence. By showing accurate aerial views of a property over time, assessors can provide compelling evidence to support valuations, helping to defend against appeals and avoid lost revenue.
Unlock full potential
Accurate and comprehensive property assessments are key to maximizing revenue for local governments. Nearmap provides the tools and insights necessary for assessors to work more efficiently, capture new taxable opportunities, and ensure that every property is taxed fairly.
Nearmap location intelligence is an essential tool that helps government property assessors identify and track taxable activity in their jurisdiction. These insights help assessors to visualize different types of land usage, ownerships, and property values within a specific area. And this information allows them to identify areas where taxable activity may be occurring but has not been reported or properly assessed.
Additionally, location intelligence can help spot patterns and trends in property development, such as new construction or renovations, which may indicate changes in property values and reassessment for tax purposes. By using location intelligence, government property assessors can accurately determine the fair market value of properties and ensure that all taxable activity is accounted for, resulting in more taxable revenue.
Maximize your taxable revenue with location intelligence. Schedule a demo of Nearmap today.