STATUTORY VALUATION

Statutory Valuation

Statutory Valuation

Question I

The statutory assessment service to Queensland (QLD) has basic economic inputs. This is also the local government's rating system in the effective operation of the key factors, in some cases, national governments and the private sector lease contract revenue obligations. Public policy, legislation or changes in methods are not only the state may introduce unintended consequences, but in the private sector where, for example, use of the statutory valuation fees or legal to pass to tenants as a rental valuation formula.

In Queensland, the land is currently valued by the Department of Environment and Resource Management (leather, or 'at') in accordance with the Land Valuation Act 1944 (volatile matter), is a long history of the Court's precedent and policy guidance.

Leather is currently based on the unimproved value (UV) of land, it uses the unimproved land valuation methods. It recommended that in 2011, non-rural land in Queensland will not get rid of improved methods of land use, but by the definition and method of land value.

According to the land value (SV), and land valuation is generally based on the current state of their market value - the key difference is that the site improvements, such as clearing, drainage, filling, leveling, may not be deducted from the land valuation.

SV is a number of reform proposals, in Queensland one of the current valuation practice. Queensland Government would consider the website as part of the reform or the valuation of land valuation services as part of the reforms to provide a wide range of the following issues:

• Re-introduction of an independent valuers report (VG) legal status

• Establishment of a national valuation services (SVS) benchmark of national performance standards for best practices, and

• Create a complex valuation industry support peer review process.

This is not a past or loaned their wide range of research areas of academic interest, although there are texts, documents, surveys and reports, according to the recommendations in this report a good foundation. It is recognized that each country has its own jurisdiction, political, economic, geographic and development parameters, will lead to the application of the statutory special value.

Therefore, it is essential that the statutory valuation is relative, consistent, valid, and that it is against and appeals, such as a transparent, fair, and to the extent possible, non-confrontational alignment process. The Queensland volatile since 1944, there has been a lot of amendments, additions and deletions point topic over the years, it is clumsy, at certain times should be rewritten.

UV, while the definition itself is not complicated cases, the practice of law and valuation has become the manipulation has been relocated away from it is a "pure" valuation factors, in addition to the cloud to read. In a further amendment of the century, an increase of complexity and a significant increase, many landlords uneasy about in 2003, from demonstrated against the boom time.

Carefully against the management of the SVS have seen this disturbing ...