ValX LLC (ValX) and affiliated firm Rocky Mountain Valuation Specialists LLC (RMVS) announced today that they have been awarded the 2006 Colorado Property Assessment Study by the Legislative Council of the Colorado Legislature.
ValX LLC (ValX) and affiliated firm Rocky Mountain Valuation Specialists LLC (RMVS) announced today that they have been awarded the 2006 Colorado Property Assessment Study by the Legislative Council of the Colorado Legislature. This award follows the previous award of the 2003, 2004 and 2005 studies. ValX and RMVS continues their roles as the 4th contractor to have held this position since the inception of the study in 1984.
The Colorado Property Assessment Study is the largest state-wide, privately conducted assessment valuation and performance contract awarded in the world. The study provides an audit of all values applied by the state’s 64 assessment jurisdictions on all real and personal property in Colorado, comprising approximately 2.9 million parcels, aggregately valued at more than $497 billion.
ValX and RMVS were awarded the contract based on their comprehensive valuation approach, including the use of appraisal valuation modeling techniques (AVM) that will allow it to perform the study through the efficient and leveraged use of statistical analysis. Two RMVS principals, Mark Linné, CRE, MAI, CAE, ASA, FRCIS and M. Steven Kane, have been instrumental in the development of AVM methodologies and techniques, and most recently were the authors of the text “A Guide to Appraisal Valuation Modeling” published in 2000 by the Appraisal Institute, and the more recent text “Practical Applications in Appraisal Valuation Modeling”, published in May 2004.
“The award of the Property Assessment Study” was recognition of the skill-set that ValX and RMVS bring to the valuation of large aggregated data”, explained Mark Linné, ValX and RMVS Managing Director. “The study provides a natural extension of the skills we have developed as Colorado’s largest valuation services provider. It is clear recognition that an appraisal firm with mass appraisal capabilities is the logical choice to perform an analysis of this type”.
Linné announced that Stephen Snyder, CAE, RMVS Director of Audit, would continue to head the assessment study. Mr. Snyder has a strong background in assessment and appraisal, having served as Chief Appraiser for the Mesa County, Colorado assessor’s office.
About ValX
ValX, an interactive valuation technology provider and consultancy, provides software, AVM development and validation consulting at a global level, with strategic business partners in the European Union, India and Asia. ValX and its senior management team includes some of the most recognized experts, authors, technology developers, valuation experts in the world. ValX has developed a global reputation in both automated valuation systems and geographic information systems. ValX is one the nation’s pre-eminent AVM consultancies, and has advised clients ranging from Wells Fargo, Hibernia Bank, Bank of America and Cushman Wakefield. ValX principals developed one of the nation’s first AVMs in the mid-1990’s, and the company has been actively involved in the field including the development of AVMs for the residential, commercial and agricultural marketplaces. ValX developed the technology for the nation’s first interactive AVM, STAT, which is slated for a nationwide roll-out to over 70 markets in 2006.
Media Contact
Wendy Skaalerud
Director of National Sales
ValX LLC
303-914-9565 ext 231
wendy.skaalerud @ valx.com
