INNOVATIVE APPROACHES IN PREPARATION FOR MASS VALUATION IN SERBIA
Marija Rašković et al
In August of 2017 the public debt of Serbia amounted to EUR 23.8 billion, or 64.6 percent of GDP.
Improving the yield from property taxation could reduce the fiscal deficit. If a value‐based property tax is to be established on a sustainable basis, certain preconditions need to be met:
A comprehensive record of taxable objects.
An accurate source of transaction price data for modelling property values ‐ sales prices and
rents.
A valuation infrastructure.
Serbia is addressing these problems and the paper will describe how this is being done and the results
to date:
The development of a comprehensive inventory of buildings and real estate objects from
satellite images.
Sales Price Register.
A new Valuation Law and how it will produce a valuation profession.
The development of a comprehensive mass valuation system.
Serbia will in cooperation with FAO, the private sector and academic partners make use of
crowdsourcing data and innovative technologies in the development of its mass valuation system.
Event: Land Governance in an Interconnected World_Annual World Bank Conference on Land and Poverty_2018
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