Earthquake is an unpredictable phenomenon that creates a vast amount of damages to its affected communities. To decrease the effects of such hazards, frameworks like building resilience have emerged. These frameworks target on increasing recovery after such disaster, by introducing new designs, technologies, and components to the building. To calculate the value of such improvements, use of loss estimation systems are essential. This paper compares and contrasts two most widely adopted loss assessment tools available, namely PACT and SLAT. Comparison of these tools mainly focuses on the consequence functions of the two methods. Recommendations are suggested to improve and complement these tools in future use.