The story behind how our company started
ValueBase started as a research group to answer one question: How do we use modern technology and sophisticated academic modeling techniques to make property assessment more accurate, equitable, and efficient?
The team spent over a year working to answer this question. We learned that most modern studies on property assessment recommend using techniques like multiple regression analysis. By using state of the art modeling methods, assessors can increase accuracy, uniformity, and equity compared to older, non-regression-based valuation approaches, at lower costs and higher efficiencies.
We secured funding to interview assessors on their processes, and found that many lack the funding, workforce, or expertise to properly build and maintain statistical models. It's also becoming more important for assessors to make their work transparent. With the market for housing shifting so much in the last decade property assessment is more important than ever, but also more difficult.
We ultimately founded ValueBase to support assessors who want to use the latest techniques and make their values as accurate as possible, but don't have the capacity. By leveraging machine learning, we have developed systems that can make large scale multiple regression easier, and created data visualizations to make our models easily understandable and explainable.
ValueBase is here to make property valuation better. We hope you'll join us.