Course Title: Valuations for Statutory Purposes

Part A: Course Overview

Course Title: Valuations for Statutory Purposes

Credit Points: 12

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
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