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UNC School of Government

IAAO Course 332 - Modeling Concepts

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Course 332 - Modeling Concepts introduces and explains fundamentals of mass appraisal model building. Chapter 1 explains the role of models in mass appraisal and describes basic model structures and steps in model development. Chapter 2 covers exploratory data analysis, including descriptive statistics, charts and graphs, and spatial analyses. Chapter 3 describes data transformations, which largely determine the accuracy achieved for a given database. Chapter 4 introduces multiple regression analysis, including regression statistics and options, the interpretation of results, and separation of land and building values. Chapter 5 covers the review and support of mass appraisal values and chapter 6 describes mass appraisal reporting.

The course includes a large number of demonstrations and labs using Excel, which is capable of producing basic models for a limited number of variables. Follow-up courses 333 and 334 cover residential and commercial modeling, respectively, in more depth and use the powerful but user-friendly statistical package, SPSS, in labs and demonstrations. Thus this course serves as a foundation and bridge to IAAO’s two follow-up model building courses.

Recommended: Course 300, Fundamentals of Mass Appraisal textbook (FMA), A solid working knowledge of Excel - AQB Approved: 33.50 QE, 33.50 CE with Exam / 30 hours CE no exam

Topics - Local and State Government

  • Local Government Finance
  • Property Taxation

Who should attend

  • Public Officials - Local and State Government Roles
  • Tax and Finance Officials
  • Auditors
  • Tax Officials


Kirk Boone joined the School of Government in 2014. Previously, he was the North Carolina sales and consulting lead for Tax Management Associates, Inc. in Charlotte. Boone began his governmental career in 1992 with the North Carolina Department of Revenue, where he was a property valuation specia...
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