Course Title: Valuations for Statutory Purposes
Part A: Course Overview
Course Title: Valuations for Statutory Purposes
Credit Points: 12.00
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
OMGT2069 |
City Campus |
Postgraduate |
325H Property, Construction & Project Management |
Face-to-Face |
Sem 2 2006, Sem 2 2008, Sem 2 2009, Sem 2 2010, Sem 2 2011, Sem 2 2012, Sem 2 2013, Sem 2 2014, Sem 2 2015, Sem 2 2016, Sem 1 2017, Sem 1 2018, Sem 2 2018, Sem 1 2019, Sem 2 2019, Sem 1 2021, Sem 2 2021, Sem 1 2022, Sem 2 2022 |
OMGT2069 |
City Campus |
Postgraduate |
325H Property, Construction & Project Management |
Internet |
Sem 2 2020 |
Course Coordinator: Judith Callanan
Course Coordinator Phone: 03 9925 2644
Course Coordinator Email: judith.callanan@rmit.edu.au
Course Coordinator Location: 8.8.34
Pre-requisite Courses and Assumed Knowledge and Capabilities
From 1 January 2016
Enforced Prerequisite: 011270 Valuation Techniques and Property Analysis
Prior to 2016
You must have satisfactorily completed the course OMGT1165 Valuation Techniques and Property Analysis
Course Description
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;
Objectives/Learning Outcomes/Capability Development
At the conclusion of the course students will be able to cogently discuss the statutory powers of various levels of government to deal with land, and argue an ethical case for the application of fair dealing and just terms
At the end of the course students will be able to outline and defend the valuation practices used in relation to mass appraisal for rating and taxing, and following compulsory acquisition
Overview of Learning Activities
Class, field work exercises (a valuation for rating and a valuation in respect of a partial acquisition), visit to VCAT, self directed work and courts case summaries.
Overview of Learning Resources
Text material comprising books, journals, Acts of Parliament and court decisions.
Overview of Assessment
Field work exercises, VCAT summary, final examination