This course aims to develop a thorough theoretical and practical appreciation of the implications of various statutes that affect the valuation of real property for rating and taxing purposes and compulsory acquisition of land.
This course examines the theory and practice associated with valuations for statutory purposes. It has three main themes - the rights of government to deal with privately owned land through planning, compulsory acquisition measures, revenue raising by property taxation in its various forms, and the judicial precedent relating to these issues; the theory and practice relating to valuation following compulsory acquisition of land; and the theory and practice relating to valuation for rating and taxing purposes.
Students will develop a detailed understanding of the:
role of the valuer in a statutory setting, and further development of professionalism in this context;
rating and taxation valuation process and its relevant statutes;
together with the practical application of the statutory valuation concepts;