For small aircraft flying below 2,500 ft. AGL, is it appropriate to compare the landed ADS-B altitude (pressure calibrated AMSL) to the elevation of the runway in order to compute a reference offset for flight altitudes?
For example, if an aircraft's ADS-B reports a landed altitude of 700 ft. and the known runway elevation is 500 ft. above sea level, is it appropriate to apply that -200 ft. offset to reported flight altitudes? Thus a reported ADS-B altitude of 1,500 ft. would be approximately 1,300 ft. for that aircraft/flight?
This question is regarding aircraft flying in the general vicinity of the airport and with relatively short flight durations (less than 20 minutes).
Edit: For clarity, this question is related to data from flight tracking websites such as FlightAware.