Assumptions and conclusions in conflict with evidence

Valuers assuming nil or minimal risk associated with site characteristics, founded upon valuer's experience or opinion where the assumptions are not reasonable or supported by evidence. Any conclusions based on opinion, experience or unsubstantiated statements on risk which are contrary to readily available information and evidence will have an impact on how the property is valued.

ATO position

Valuation standards require all assumptions be reasonable and supportable, and valuer's opinions, no matter how experienced the valuer, cannot be sustained where these opinions can be refuted by direct evidence.

    Last modified: 27 May 2014QC 25319