We introduce Prodigy Appraisal™, a comprehensive mass appraisal software application that is being developed from the ground up using the latest advancements in computer software technology. The product includes all software modules expected for the operation of a Texas Appraisal District.
Property Maintenance Module
Our property maintenance module includes, parcel identification with parcel split and merge support, owner maintenance, land maintenance, improvement maintenance, property versioning, deed maintenance, sales maintenance, tax agent maintenance, ag/timber maintenance, exemption maintenance, and taxing unit maintenance.
Our appraisal module includes business personal property valuation, mineral property maintenance, cost approach valuation, market approach valuation, income approach valuation, mixed-use property valuation, , value reconciliation, sales ratio analysis, and multiple-regression analysis.
Our appeals module includes inquiry management, appeals management, market comparable grids, equity grid generation both of which use various configurable methods, and online appeals.
Roll Generation Module
Our roll generation module includes exemption processing, preliminary appraisal roll generation, certified appraisal roll generation, supplement roll processing and state reporting.
Our interfaces module includes interfaces to popular software tools such as Marshall & Swift®, Pictometry®, ESRI GIS®, Zillow®, Google Maps®, Bing Maps®, and CoStar® among others.
Our tools module includes query-builder, document imaging with embedded OCR, elastic search, object attachment, embedded and configurable spreadsheet support, quick data entry, and reporting engine.
Our web portals include an owner portal, agent portal, taxing unit portals, arbitration and litigation portals. Our owner portal includes the ability to submit electronic exemption applications, account maintenance such as address corrections and name changes with supporting evidence, electronic protest filing, electronic renditions, communications center, and the ability to manage their properties for a complete view of their property portfolio. We are also developing specialized portals for our clients such as a title company portal among others.
We will do this using various enabling technologies including cloud-computing, modern web app design, open api architecture, workflow and BPM enabled api, data visualization tools, advanced analytics, responsive design for mobile desktops , machine learning and AI algorithms, external web app integration, on-demand scalability and high availability.
Prodigy Appraisal® is the NEXT generation appraisal system for Texas.
We introduce Prodigy EquiFinder™, a powerful tool for the selection, identification and comparison of commercial property for the purpose of fair and equitable valuation analysis. Equity-based protests continue to increase in volume and has created undue pressure on appraisal staff to come up with defensible analysis and effective equity grid presentations. Many MAIs and statisticians would agree that a successful equity analysis begins with a solid comparable selection methodology. Prodigy EquiFinder™ was designed specifically to address this need by using the Minkowski selection metric including the use of standard deviation as an initial selection, then weighing the selection using regression analysis of specific factors to arrive at the top list of comparables. The top x number of comparables are then selected and placed on a grid with automated adjustments of the specific factors such as land-to-building ratio, building quality, NOI and any other factor that is deemed significant based on appraiser opinion or multiple regression analysis data. Since the equity appraisal approach varies by appraisal district office, many of the processes in the product are configurable for each appraisal office including the selection process, the regression process, the factors used, and the presentation reports among others.
Prodigy EquiFinder™ enables appraisal districts to provide effective equity grid presentations and defensible valuation analysis. Prodigy EquiFinder™ is a tool that every appraiser should have today.
Prodigy MRA™ will bring a fundamental change to the mass appraisal industry as it will make multiple regression analysis vastly easier to use and place it in the hands of everyday appraisers as they fine tune their property valuations. We will bring this functionality using browser-based cloud computing technology and make it available at a fraction of the cost of other external tools such as SPSS™ or NCSS™
We understand that many Business Intelligence analysis have traditionally been carried out manually by personnel with reporting and spreadsheets and without the need of advanced software tools. However, the amount of time and effort required for even one of these analysis has become insurmountable and is a challenge for many appraisal offices today. Prodigy BI™ will require minimal effort by making use of custom extensions and allow the user access to compelling data visualization tools.
With the power of Prodigy Analytics™, we believe that appraisal districts will gain insights into their operations unlike anything they have seen before. This information will prove invaluable as workloads continue to increase and budget constraints remain. In addition, the general sophistication of the public and tax agent community puts even more pressure on appraisal districts today. Prodigy Analytics™ will become a necessary tool for those appraisal offices that embrace strategic thinking.
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