Case Study: New Mexico County Assessor improves commercial property appraisal accuracy by 50% with C3 AI Property Appraisal

New Mexico County Assessor boosts property appraisal accuracy by 50% with C3.ai

The New Mexico County Assessor, responsible for valuing over 280,000 parcels, faced a tedious and costly manual appraisal process. As a non-disclosure state, incomplete sales data and complex commercial properties made achieving accurate, equitable, and defensible valuations a significant challenge. To overcome this, they selected the C3 AI Property Appraisal application from vendor C3.ai.

C3.ai implemented its AI-based solution, which unified over eight million rows of data to create automated valuation models. This resulted in a 50 percentage point improvement in model accuracy and a 3x improvement in appraisal equity. The solution also delivered a 6x improvement in appraisal efficiency, enabling the New Mexico County Assessor to conduct valuations with greater speed, consistency, and transparency.