Adjustment Model Maintenance

Navigate: ClosedValuation > Valuation Management > Adjustment Model Maintenance

Description

Use the Adjustment Model Maintenance task to create and maintain adjustment models.

Adjustment models are created for consistent pricing of real property, allowing Aumentum to conduct meaningful statistical analysis of information, and consistent calculation of values.

An Adjustment Model may have one or more adjustments as well as one or more Valuation Methods. The Order of Calculation is determined per Valuation Method.

Steps

  1. On the Adjustments Model Summary screen, click Add New in the panel's title bar.

    2. OR

    Click the Pencil icon to edit an item in the grid.

    OR

    Click the Copy icon to open the Model Being Copied pop-up.

    • Edit the information as needed and click OK at the bottom of the pop-up.
  2. On the Adjustment Model Maintenance screen, click the Model Information tab to define a new model's basic characteristics.

    • Code – Enter a code representing the model.

    • Name – Enter the name of the model.

    • Status – Make a selection from the Status drop-down list, which specifies whether or not the model is available for use throughout the system.

    • Description – Enter a description of the model.

  3. Click Save at the top of the screen.

    • Click Model Summary to return to the Adjustment Model Summary screen.
    • How does one delete a model from the Adjustment Model Summary screen?

  4. Click the Model Rates tab to view and maintain adjustment model rate definitions.

  5. Click the Add New icon. A new line is active for editing.

    6. OR

    Click the Pencil icon in the panel's title bar. All items are active for editing.

    OR

    Click the Excel icon to export the Model Rates to a Microsoft Excel spreadsheet.

    OR

    Click the red X to delete an item in the grid.

  6. Define the Model Rates:

    • Valuation Model – Defines which methods will use the specified adjustment rate.

    • Adjustment Code – Items in this drop-down list are configured on the Adjustment Configuration screen.

    • Adjustment Type – Automatically populated based on your Adjustment Code selection.

    • Rate – Enter a rate to be applied to any object (e.g., land, building, feature, appraisal site), as defined on the Adjustments Configuration screen.

    • Apply To – Make a selection from the drop-down list.

    • Order of Calculation – The Order of Calculation sets the calculation order Aumentum uses for models that use multiple adjustments per valuation method. The first calculation entered always displays an Order of 1.

    • Click the green check mark to save your changes.

    • Click the red X to discard your changes and exit the editor.

  7. Click Save at the top of the screen.

    • Click Model Summary to return to the Adjustment Model Summary screen.

    • Click Refresh to clear all selections and refresh the page.

    • Click Close to end the task.