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It is becoming increasingly clear that as the pressures of climate change increase around the world, all nations must strive to lower their carbon footprint through conservation. If the growth trend of green building and infrastructure construction is to be continued and improved upon, then evidence must be collected as to the benefits they bring about, and the level of support they enjoy in the market. The purpose of this paper is to shed light on the economic performance of green buildings by evaluating whether LEED for Homes and BOMA-BEST properties capture higher market valuations and lower vacancy rates. These types of research questions have not been investigated to a great deal in the Canadian context. The primary analysis concerning municipal market valuation of green buildings was conducted using robust ordinary least squares and logistic regression models. Commercial vacancy rates were compared through the use of χ² tests. Our analysis did not lead to conclusive evidence that there exists a “green” premium in the real estate market with respect to municipal market valuations. The authors argue that this may largely be due to municipal appraisal methods that currently do not incorporate sustainability factors. As such, they may not adequately reflect market tastes and trends. Furthermore, while the vacancy rates of green commercial buildings were, on the whole, lower than their non-green counterparts, the differences were not statistically significant. Given these results, the authors propose a set of research activities that the academic community should pursue.

Statistical techniques are utilized test whether green certification (LEED/BOMA-BEST) leads to higher municipal valuation for both commercial and residential green properties, using regression analysis. Furthermore, χ² tests are conducted to evaluate whether certification leads to lower vacancy rates for commercial properties.

In terms of valuation, certification does not exert (on average) a positive role in terms of higher valuations for both commercial and residential properties. However, with respect to vacancy rates, there is a tendency towards lower vacancy rates for green properties, but the relationship is not statistically significant.

The next set of research needs to gather greater amount of data with respect to how municipal evaluations are performed since the results are counter-intuitive. Greater tracking of the financial performance of green buildings should be conducted and made available for both public and private bodies. Particularly, rental and sale prices of green buildings need to be tracked in an organized manner.

The valuation techniques utilized by the municipal authorities need revision as green properties are being assessed without appropriate guidance from educational institutions. Furthermore, the limited amount of “green” valuation techniques in existence may not be applied.

This is the first Canadian-based research looking into the valuation of green certification using rigorous quantitative statistical techniques and original and publicly available data. Furthermore, it holds important lessons for municipal authorities with respect to green building valuation beyond Canada as the limitations of current practice go mostly likely beyond the North American context.

This paper aims to investigate the potential role of property taxes as a revenue source for local government in Tanzania. Often this tax is beset with political and administrative problems that affect its operational efficiencies.

The research is the result of extensive fieldwork undertaken in Tanzania during 2002 to investigate and evaluate the valuations done for purposes of the property tax in Dar es Salaam and eight regional towns.

Urban local government revenues, and in particular those classified as own revenues in Tanzania and other East African countries, are generally not sufficient enough to develop and supply adequate urban services to the region's fast growing urban population. The main findings of the paper highlight the difficulties faced by municipalities in developing and maintaining a property tax system.

The key problems were lack of experienced staff, limited equipment and significant political interference.

This research clearly identified the need for developing countries to recognize the importance of creating sustainable tax sources that are easily managed at low costs. The work found that the property tax system as designed for Tanzania was not sustainable and suggests a range of possible improvements.

The research did indicate that significant results could be achieved through implementing improvements in developing a simplified valuation basis and through greater collection efficiency. The research should be of particular interest to policy and decision makers within other developing countries who are embarked on a process of property tax reform.

This study sought to highlight the conceptual and empirical grounds precluding accuracy in property valuation thereby exposing the limitations of valuation as proxy for actual transaction price and as basis for performance measurement for property investment. As a way of gauging the current level of awareness on the subject of valuation accuracy among Nigerian valuers (estate surveyors/appraisers) and to ascertain their response to the worldwide phenomenon, the study also included an empirical investigation of the perception of principal stakeholders in Lagos, Nigeria.

For primary data, the study employed questionnaire survey based on cluster sampling technique; while secondary data were sourced from existing literature and results of previous empirical studies.

“True market value” is unattainable; while valuation rarely identifies its target – the transaction price as surrogate of the “true market value”. In Nigeria, considerable gap exists between expectations and realities in valuation accuracy.

While efforts devoted to improving the accuracy of property valuation are laudable, the study revealed the extent to which such improvement is feasible.

The study suggested measures that would help Nigerian valuers hone their skills for improved level of accuracy; while funds managers and other valuation end-users are cautioned against blind use of valuations as performance yardstick for property investments.

Uniquely among the built-environment professions in the country, professional valuers in South Africa until recently did not require to have a university degree. The vast majority of professional valuers therefore, especially at senior levels, hold the national diploma as the highest academic qualification. There is evidence to suggest that many regard this state of affairs as unsatisfactory. Given the foregoing, the purpose of this paper is to answer two interrelated questions, first, whether South African trained and educated valuers were “competent” and met industry standards, and, second, whether the South African valuation curriculum met international norms.

Empirical data for the study were obtained by way of a survey of valuers registered on the South African Council of the Property Valuers Profession (SACPVP) database and a case study of the University of Cape Town’s valuation curriculum. The survey involved the mailing of an online questionnaire, using the “Survey Monkey platform”, to 2,062 individuals, representing the total population of valuers registered with the SACPVP, across all registration categories. A total of 324 individuals, or 15.7 per cent of the target population, responded to the survey.

Results from the study on the first question showed that it was professional status and length of experience, rather than academic qualifications, which correlated with competence. In addition, the results suggest that there are grounds for concern regarding proficiency in at least some of the valuation methods across the board. Further, the study revealed significant levels of dissatisfaction amongst employers with the general competence of valuers under their supervision. On the second question, the study concludes that the South African valuation curriculum did not meet international norms in terms of certain criteria.

The paper recommends a review of the South African valuation curriculum; to allow for a differentiation between the different academic levels, to facilitate a more conceptual approach at the higher levels, and to close the identified gaps in knowledge and skill-sets arising from both a deficient curriculum and a changing industry landscape.

At a time when attempts are being made to improve standards in the South African valuation profession, the study makes a critical contribution, by identifying areas where the national curriculum is deficient, both in terms of industry requirements and relative to international norms.

This study aims to investigate how a sample of US municipalities use social media for strategic communication, focusing on efforts to effectively measure and evaluate that communication. Research questions focus on measurement and evaluation practices, as well as the motivations and impacts associated with these practices.

This research uses a qualitative approach. Interviews were conducted with 12 municipal government personnel responsible for social media communication. The self-selected participants represent 10 states and all US Census regions. Data was content analyzed and categorized according to four research questions, with emergent themes described.

The results show a diverse set of approaches and motivations, with surface-level measurement and evaluation methods. Initial efforts at more ad hoc use of social media are moving toward more deliberate strategies, but limited resources inhibit progress for some municipalities.

Few studies exist which explore how US municipalities formally measure and evaluate their social media activities as part of their overall strategic communication efforts. This study adds to the existing literature by providing insight into the measurement and evaluation practices that municipalities use to assess their social media communication. The study also provides a basis for larger and deeper investigations of municipal strategic communication practices related to measurement and evaluation.

This paper aims to construct an appropriate automated valuation model to value Housing and Development Board resale flats in Singapore. The paper also aims to test the accuracy of the model by comparing the values generated with actual valuations performed by a property firm in Singapore. In addition, it seeks to examine whether models for the sub‐markets of Housing and Development Board resale flats based on location or type of flat are more “sufficiently accurate” than the general model.

Using transacted data of 1,483 HDB resale flats, a hedonic price model is used to estimate housing price. The variables adopted include floor area of the housing unit, floor level of the housing unit, age, distance from central business district and distance from the mass rapid transit station.

The study found that the general model provides sufficient accuracy when producing valuations. The models based on sub‐markets, namely, “location” and “type of flats” produced reasonable levels of accuracy, although more variables could be added to the “type of flats” model to improve its reliability.

The research is limited to a few locations in Singapore. Future studies can include data from all over the island to provide better coverage.

The automated valuation model could bring time and cost savings, which could result in higher profit margin for property firms. Thus, valuers could spend more time on complex valuations and issues. The model can also be modified to fit other property markets with appropriate characteristics (for example, high volume transactions).

This paper represents an initial attempt to apply the automated valuation model in the valuation of Housing and Development Board resale flats.

This research study aims to examine influences on the public library funding decision from the perspectives of New Jersey mayors and public library directors.

Content analysis was used to explore statements of 84 public library directors and 45 mayors about what was most/least effective in a recent library budget request.

Although they may differ on the relative importance of a specific concept, the public library directors and mayors in this study have high levels of agreement about what information is important in the budget decision process.

The primary limitations of the findings of this study stem from the reliability of self-reported data and the low response rates. While the researcher believes that the findings and conclusions are valid for the survey respondents, it is less certain that they are valid for all public libraries in New Jersey, and it is not recommended that the conclusions be extended to public libraries outside of the state which differ in state mandates and other circumstances.

Understanding more about the factors that can influence library funding decisions provides insight into the very complex public library funding process and may help public library directors and mayors engage in mutually satisfactory budget negotiations.

This study contributes to the Library and Information Science research literature on library budgets by examining influences on the public library funding decision, specifically adding the perspectives of mayors and public library directors on a recent budget cycle.

Policy issues associated with the regulation of the unlisted debenture market have been highlighted in recent times with the collapse of a number of regionally based mortgage companies. The purpose of this paper is to analyse the decline and demise of the unlisted debenture market between 2007-2013 with particular reference to the effectiveness of the regulatory regime in stabilising the industry and protecting investors’ interests.

A database was constructed which reflected the total population of unlisted mortgage companies in the financial sector. A snapshot approach was used to assess the extent to which these companies complied with regulatory provisions.

Findings suggest the regulatory process allowed these companies to continue operating despite not complying with the relevant Australian Securities and Investments Commission benchmarks. In the light of the current inquiry into the financial system, the research suggests that a re-evaluation of the regulatory approach is timely.

This research is restricted to a study of one category of debenture issuers (issuers of mortgage finance). It is based on reports required by regulatory authorities. It does not provide an analysis of the motivations of investors in these companies.

This research has implications for the implementation of regulatory change in respect to oversight of shadow banking activities. It suggested that a passive approach to regulation is not sufficient to ensure that the interests of investors are fully protected.

No prior research has systematically examined the unlisted mortgage and analysed the borrowing and lending activities of companies that have failed and those that have survived.

Preparing a levy and a working budget may be the most critical job a library trustee will undertake during the year. If you underbudget — budget less than income received — you shortchange your citizens in terms of services or materials they otherwise could have received. On the other hand, if you overbudget — plan to spend more than income received — you could place your library in a disastrous financial situation.

The purpose of this research is to examine the accounting output of the reformed financial accounting system of municipalities in Belgium, particularly in Flanders. For the first time ever in Belgian governments, an accounting reform transferred from business accounting was imposed. The research hypothesizes that the level of material comparability of the accounting output is very poor in spite of the strict accounting regulations. The empirical results indicate that the annual accounts are actually incomparable in many respects and that these problems cannot be explained away by a lack of experience.