Statutory and Regulatory Property Valuation in Australia – hinnat ja saatavuus

This book explains how property valuation is undertaken for the purposes of taxation and determining compensation for compulsory acquisition in Australia, known as statutory valuation, together with how property valuation is undertaken for financial reporting purposes, or regulatory valuation. Through an analysis of relevant concepts of value, statutes, standards and valuation methods, this book provides the framework within which such valuations are undertaken, being an easy to follow guide to the complex and often arcane world of statutory valuation and the globally applicable requirements of regulatory valuation. For statutory valuation for taxation purposes, the role of mass appraisal valuation approaches for land valuation is considered together with the future role of automated valuation models, and the impact of climate change (through increased incidence of bushfires and floods) and systemic shocks such as the COVID19 pandemic. For statutory valuation for compulsory acquisition compensation purposes, key concepts are considered, with a detailed review of compensation for market value, special value, severance, injurious affection and betterment/worsement. Complex and detailed legislation and case law for the payment of disturbance compensation and indigenous cultural loss compensation are reviewed and applied together with consideration of compensation for non-freehold interests such as leaseholds, easement, strata and substratum. For regulatory valuation purposes, the inter-related roles of international accounting standards and international valuation standards together with international financial reporting standards are considered, together with an outline of the relevant valuation methods for the assessment of fair value for financial reporting purposes. An essential textbook for students undertaking property valuation courses at undergraduate and postgraduate levels, this book is also a useful reference for practitioners in banking, accounting, law and other professions dealing with property taxation, compulsory acquisition and financial reporting.