Digital application for the visualization of zones of the property valuation system

Digital application for the visualization of zones of the property valuation system

The implementation of the new digital tool is part of the technological and digital modernisation, which is one of the four main axes of the reform of the framework for the objective determination of property values, which the government is promoting from autumn 2019.

Through the application, which was created with the cooperation of the Ministry of Finance and the Ministry of Digital Governance, and in particular the Secretaries General of Economic Policy Christos Triantopoulos and Public Administration Information Systems Demosthenes Anagnostopoulos, all the zones of the property valuation system are for the first time depicted on a digital, satellite map of Greece.

For the development of the digital map, the use of GIS (Geographic Information System) technologies was utilized, including the new areas – extensions and new zones – that were included in the system of objective determination of real estate values by the Independent Department of Valuations and Determination of Real Estate Values of the General Secretariat of Economic Policy, in cooperation with the competent services of the General Secretariat of Public Administration Information Systems.

Thus, the citizen in a very simple and quick way, without requiring the use of codes to enter the application, now has the ability, by entering only the address of the property or the postal code, to search and locate accurately the zone of interest and to obtain all the information, which, until recently, was included only in the respective tables and colored map extracts of the previous ministerial decisions determining the zone prices.

Also, thanks to the multiple technologically advanced features of the application, additional possibilities are provided for:

Displaying all values on a single map to enable comparison of area values to draw useful conclusions.

To allow for the visualization of the zones of the objective determination of real estate values with their unique coding on the satellite map of Greece.

Calculation of the current objective value for properties within the city plan or settlement boundaries and within the system of objective value determination of real estate values with the introduction of calculation parameters. The zonal values, which have been mapped at the zonal level, refer to the value of a newly built first floor property with a street frontage. By analogy, through the application capturing the characteristics of each property (age, facades, etc.), each citizen can calculate the current property value of his/her property by selecting the frontage and filling in the necessary data.

Information, at the click of a button, on how the new property values will be formed from 1/1/2022.

Identification of a zone on the map with all its digitized data and immediate identification of areas outside the plan or outside the property value determination system until their inclusion.

In the coming months, the enrichment of the system is expected, both with the digitization of the remaining forms for the determination of the objective value of property, and with the introduction of digitized data, such as the building coefficients of urban planning and commerciality coefficients, in order to fully automate the calculation of property values.

The Ministry of Finance states that, in cooperation with the Ministry of Digital Governance, this new application remains consistent with its commitments to the digital restructuring and upgrading of the system for the objective determination of property values.

In this direction, the second phase of the reform includes the development and implementation of a Mass Property Valuation Information System with the creation of an assessment model that will take into account and simulate prevailing real estate market conditions and market trends, based on statistical methods of data management and analysis, in line with European and international best practices.

In this context, preparatory work has already begun and is proceeding at an intensive pace, with the aim of the country acquiring a modern system for the objective determination of real estate values that will be in line with market developments and will create the conditions for real estate taxation to ensure the dual objective of social justice and economic efficiency.