Tax assessor data provides a wealth of information, including property ownership, assessed value, and property characteristics (e.g., number of floors, presence of a fireplace). However, it suffers from three major issues: 

• Tax assessor records are not standardized across counties, which means certain attributes available in one county may not be available in another county;
• Tax assessor data is collected when a property is assessed (usually in advance of a sale or a mortgage refinancing), which means the data may not be up-to-date; and
   
• County records may be incomplete, due to data quality issues or legacy data collection practices.

Homeownership Limitations

Publicly available residential information only provides the name of the property owner. It does not state whether a homeowner lives on site, the property is rented, or the homeowner’s income classification. There are no centralized databases in the public sphere that record this information. 

Financial institutions that use this information as a base must look deeper to inform their marketing decisions when significant amounts of data are unavailable. 

Demyst’s API Solution

Demyst’s plug-and-play API recipe, Property Ownership and Occupancy, supplies occupancy status, homeowner income level, and other pertinent data points (e.g., income),  to simplify marketing efforts for financial institutions. 

Instead of focusing on a single upstream data source, Demyst maximizes flexibility and efficiency through a catalog of external data providers accessed through a single API. 

Sign up for a free account on the Demyst platform and discover more recipes that can streamline your business processes.