Equalization Valuation Modeling (EVM) for Smaller and Mid-Sized Jurisdictions: Foundations & Model Development

In this book, we introduce Equalization Valuation Modeling (EVM) — a practical, transparent approach designed specifically for smaller and mid-sized jurisdictions. Unlike traditional Automated Valuation Models (AVM) or Mass Appraisal Models (CAMA) that predict sale prices, Equalization Valuation Models use your jurisdiction’s own Just Values as the dependent variable to improve uniformity and defensibility across the roll.

Using a real non-coastal Florida county dataset (hybrid taxing system with 7 towns), we demonstrate:

· Proper data construction for equalization modeling

· The 2-Pass Outlier Protocol (Z-score based)

· Dramatic model improvement from Pass 1 to Pass 2

· Just Value Ratio (JVR) analysis showing major gains in uniformity

Key Result: After removing ~5% outliers, R² rose to 93.78%, Standard Error dropped to $35,963, and JVR dispersion tightened significantly. This book lays the forensic foundation for building lightweight, internally manageable models using only Excel.

Together, these two sessions establish the core of Equalization Valuation Modeling — a transparent, platform-agnostic approach that serves as both a preventative shield for assessing offices and an independent verification standard for Review Commissions, Value Adjustment Boards, and consultants.

By Sid Som, MBA, MIM

Copyright July 2026