Units
Property Valuation 3
Unit code: UDB247
Contact hours: 3 per week
Credit points: 12
Information about fees and unit costs
It is part of the role of a Property Valuer to perform valuations for statutory purposes and to represent those valuations in the capacity of an expert witness. It is imperative that you have the necessary knowledge to undertake statutory valuations and have an understanding of the role of a Valuer as an expert witness. This unit will enhance the knowledge and skills you have developed in prior valuation units and apply this in the statutory and special use property valuation context.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 2 | Yes |
Offered in these courses
- UD40
Sample subject outline - Semester 2 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
This unit will introduce you to the concepts associated with the valuation of land for statutory purposes, including the levying of rates, the assessment of compensation for compulsory acquisitions, the value of the role as an expert witness, and the valuation of specialist property types. The role of the valuer, as an expert witness and attendance at court procedures, are a probable part of valuation practice in the volatile property markets and an exposure to this area of valuation is crucial to understand the processes involved. This unit will enhance the knowledge and skills you have developed in prior valuation units and apply this in the statutory and special use property valuation context.
Aims
The aim of this unit is to assist you to develop your understanding of the role, responsibilities and ethical and professional practice in relation to the valuation of property for statutory purposes and special premises.
Objectives
Upon completion of this unit you should be able to:
1. Critically analyse legislation affecting the valuation of private and public land in Queensland for rating and taxation purposes.
2. Understand and apply the requirements of valuation for compulsory acquisition purposes and the role the courts play in relation to the resumption of land.
3. Demonstrate an understanding of the role of an expert witness in giving evidence in respect to property and valuation matters
4. Develop basic competencies appropriate for the preparation and presentation of specialist urban and rural valuations.
Content
This unit will cover the following topics:
Valuations for tax and taxation of capital gains; statutory rating purposes under relevant legislation including appeals procedure, compulsory acquisition, assessment of compensation resulting from acquisition; resumption and damage; special use, business, qualitative data, non-market, sustainable development valuations.
Evidence: the expert witness, professional liability understanding, and moot court experience.
The unit will also address the issues and valuation practice methods associated with special use property, such as rural, hotels, motels and business related property types. A number of case studies will be used to develop these specialist valuation skills.
Approaches to Teaching and Learning
Lectures: 3 hours
Your learning will be facilitated through the use of lectures, case studies, team and individual assessments and directed market research. A field trip will be included as the basis for an assessment task.
Assessment
QUT's Assessment Policy is located at MOPP C/5.1.
This unit will comprise both formative and summative approaches to assessment involving a mix of formats including both oral and written feedback.Your lecturers will provide feedback on your progress and work during lectures and tutorials.
Assessment name:
Examination (written)
Description:
Mid year exam
Relates to objectives:
1, 2, 3, 4
Weight:
50%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 7
Assessment name:
Report
Relates to objectives:
3, 4
Weight:
50%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 13
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
No required texts.
Risk assessment statement
There are no unusual risks associated with this unit; you are not required to undertake activities that attract risks different from those in an ordinary office environment.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 20-Jun-2012
