A valuation is the determination of the economic value of an asset.
In local government the term "Valuation" is often used to describe the valuation of an entire class of assets.
Asset valuations can be performed in a number of ways, including by determining the market value of similar assets, or by applying unit rates to known quantities of assets.
Who can carry out a valuation?
Land and market based building valuations should be done by valuers/professionals experienced in determining the correct (justifiable) value.
In most cases, non market based valuations can be done by suitably experienced council staff, providing they demonstrate their logic and their results are unbiased, although it may be a State Government requirement to use registered valuers for certain asset types.
Related Pages
- AASB 116
- Asset Valuation
- Australian Infrastructure Financial Management Guidelines
- Brownfields Valuation
- Deprival Value
- Financial Report
- Greenfields Valuation
- Mechanical Services
- Rolling Valuation
- Unit Rate
