Publication Details
Abstract
This article is devoted to researching the development of real estate valuation methodology in Uzbekistan, highlighting the significant financial losses experienced by local government authorities due to the absence of an updated, relevant, and transparent tax assessment system. The primary hypothesis of the study is that improving the methodological and institutional framework for mass appraisal will lead to the gradual development of real estate market relations in Uzbekistan, as well as the sustainable formation of an effective and fair tax system. The research identifies current issues within the national mass appraisal system and proposes corresponding solutions. The majority of these problems are related to the lack of market data and the use of outdated methodologies. The obtained results support the idea of creating, implementing, and sustainably maintaining a mass appraisal system as a fundamental element in establishing an equitable real estate tax system. This, in turn, stimulates regional development and supports economic activities related to the real estate market.