Market valuation for tax purposes

Part B: Real property and plant and equipment

This part provides guidance on valuation processes for real property and plant and equipment. It includes:

• valuation methods - property, and
• general comments on plant and equipment valuations.

Valuers of real property (residential, commercial, industrial, retail and rural) generally adopt the IVSC definition of market value and base their valuation on the property's highest and best use.

Valuers should be familiar with current market trends and conditions for the type of assets they are valuing. They should also refer to current market transactions to establish the basic data on which the valuation may be assessed.

Sections within Part B: Real property and plant and equipment

• Valuation methods - property
• Valuations of plant and equipment