In local government the term "Valuation" is often used to describe the valuation of an entire class of assets.
Who can carry out a valuation?
Land and market based building valuations should be done by valuers/professionals experienced in determining the correct (justifiable) value.
In most cases, non market based valuations can be done by suitably experienced council staff, providing they demonstrate their logic and their results are unbiased, although it may be a State Government requirement to use registered valuers for certain asset types.
Which systems of valuing land may a Council use?
- AASB 116
- Asset Valuation
- Asset Value Projection
- Australian Infrastructure Financial Management Guidelines
- Brownfields Valuation
- CPA Australia Valuation and Depreciation Guide
- Deprival Value
- Financial Report
- Greenfields Valuation
- Mechanical Services
- Rolling Valuation
- Unit Rate
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