Statutory and Regulatory Property Valuation in Australia

This book explains how property valuation is undertaken for the purposes of taxing land 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 statutory valuation is undertaken, being an easy guide to follow 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 acquisi