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Common Ownership
- 11 Oct 2023
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Common Ownership
- Updated on 11 Oct 2023
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Introduction
An issue that frequently arises when working with tax parcels is that a single property can comprise multiple tax parcels, each with a set of assessor attribution. This is very common with commercial and industrial properties, but can also occur with residential properties. Misunderstanding this nuance can lead to costly mistakes when a property site must be evaluated, such as appraisal/valuation, environmental engineering, and many others.
Common Property Types where this occurs
- Commercial Properties
- Industrial Properties
- Vacant Land
- Agricultural Land
- Large rural residential properties
The Challenge
The challenge is identifying all properties that make up a single site. It is not as simple as just using the assessor owner name on each record. Owner names come in many different variations. They can be under LLCs, different abbreviations, first name ordering, or first owner and second owner ordering. These nuances make the owner name an unreliable attribute for this identification.
Definition
Common ownership is defined as adjacent parcels that are touching and/or are within 300 feet of each other with the same owner.
LightBox Data Team
The LightBox Data team utilizes an algorithmic method using multiple datasets, including sales data, to mark these parcel groups as having common ownership.
An imperfect solution
Having common ownership does not always mean that the two properties are a single site. There are times when two properties are next to one another and are owned by the same entity, but are truly separate properties. While the data team works to identify this scenario, it is not always 100% successful. However, this solution is reliable over 95% of the time in properly identifying a site, and our clients still find this high margin of success to be very useful.
Parcel API
The LightBox Parcel API response will carry the common ownership count and has an API endpoint that allows for retrieval of all the parcels in a common ownership group. A companion to the common owner attribute is aggregated lot size, witch provides the aggregated lot size summed for all the parcels within the group. You can find these referenced in the related object on the Parcel API response.
Pro Tip:
If you are using our parcel data within a map interface and a target parcel is identified, using the common ownership count and the adjacent endpoint will allow you to show parcels that are next to the target parcel that have common ownership. You can then have the end user identify all the parcels that make up a site.
Parcels Boundaries within SmartFabric
Parcel data within the SmartFabric product, regardless of package, comes with attribution to help you determine this occurrence
SmartFabric Parcel Fields that support Common Ownership:
| Name | Type | Size | Description |
|---|---|---|---|
| AGGR_ACREAGE | Double | float | Sum of lot acreage owned by the same ownership entity, within a single county extent. (see AGGR_GROUP for more detail on how ownership is identified) |
| AGGR_GROUP | String | 100 | ID indicating the grouping (ownership) of parcels for a single owner. Ownership identified by proprietary model that leverages both owner name and owner address. Parcels are identified within 300ft of adjacency, within a single county extent. |
| AGGR_LOT_WIDTH_MEDIAN | Integer | int | Median lot width of all parcels within the aggregated owner group (AGGR_GROUP). |
| AGGR_LOT_COUNT | Integer | int | Number of parcels owned by the same ownership entity, within a single county extent. (see AGGR_GROUP for more detail on how ownership is identified) |
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