Calculate ratio statistics as set Provide individual ratio on sale properties (refer out in Appendix C on completed Appendix C). valuations. Provide a summary of ratio statistics for each SMG. Discuss the conclusions drawn from the sales ratio Conduct exception reporting and statistics, providing justification where tolerances have not analysis of value shifts, as per been met. Appendix D and E. Discuss conclusions drawn for SMGs where few sales exist. When there is no sale evidence for a SMG, discuss how levels of value and influencing factors have been applied. analysis Provide shift statistics for sale and non-sale properties as set out in Appendix D and provide reasons if – – tolerances were not met. Statistical Provide exception reports as set out in Appendix E. Provide valuation GIS maps as per Appendix F. Track sales since January 2016 as set Provide tracking graph and consider market shifts since the out in Appendix B. 2016 valuation for each SMG. Comment on whether applied values capture market shifts. 2.3 Stage 3A preliminary valuations nominated properties – Stage 3A is to be submitted not before 1 July 2017 and no later than 31 August 2017 This requires the undertaking of preliminary valuations for all nominated (3A) properties using the available Municipal Group of Valuers (MGV) or VGV nominated property templates. If templates are unavailable, a separate spreadsheet setting out the detailed valuation methodology and calculations for each nominated property is required. Nominated properties possess one or more of the following qualities: major revenue significance to rating authorities unique property type rarely sold and/or leased. 2.3.1 Inspection requirements A comprehensive on-site inspection of each property is required. 2.3.2 Data collection The data collected will be of sufficient quality to meet the requirements for certification. Where applicable, this may include up-to-date: sale and/or lease information on the property rent and outgoings schedules details of both land and building
Statistical analysis Calculate ratio statistics as set out in Appendix C on completed valuations. Conduct exception reporting and analysis of value shifts, as per Appendix D and E. Provide individual ratio on sale properties (refer Appendix C). Provide a summary of ratio statistics for each SMG. Discuss the conclusions drawn from the sales ratio statistics, providing justification where tolerances have not been met. Discuss conclusions drawn for SMGs where few sales exist. When there is no sale evidence for a SMG, discuss how levels of value and influencing factors have been applied. Provide shift statistics for sale and non-sale properties – as set out in Appendix D – and provide reasons if tolerances were not met. Provide exception reports as set out in Appendix E. Provide valuation GIS maps as per Appendix F. Track sales since January 2016 as set out in Appendix B. Provide tracking graph and consider market shifts since the 2016 valuation for each SMG. Comment on whether applied values capture market shifts. 2.3 Stage 3A preliminary valuations – nominated properties Stage 3A is to be submitted not before 1 July 2017 and no later than 31 August 2017 This requires the undertaking of preliminary valuations for all nominated (3A) properties using the available Municipal Group of Valuers (MGV) or VGV nominated property templates. If templates are unavailable, a separate spreadsheet setting out the detailed valuation methodology and calculations for each nominated property is required. Nominated properties possess one or more of the following qualities: major revenue significance to rating authorities unique property type rarely sold and/or leased. 2.3.1 Inspection requirements A comprehensive on-site inspection of each property is required. 2.3.2 Data collection The data collected will be of sufficient quality to meet the requirements for certification. Where applicable, this may include up-to-date: sale and/or lease information on the property rent and outgoings schedules details of both land and building
2018-Valuation-Best-Practice-Specifications-Guidelines.docx