This subject will extend the knowledge acquired in previous valuation and investment subjects by examining the methodologies used for the valuation of complex and diverse property interests. Various applications and methods of valuation will be analysed. For statutory valuation purposes the mass appraisal method, GIS applications and the compulsory acquisition process will be evaluated. Examples of specialist valuation topics that may be covered include the valuation of management rights, hotels, marinas, businesses, retirement sector assets, plant and machinery and rural properties. Specialist valuation topics vary depending on access to guest speakers. The rules of conduct of the relevant professional bodies will also be analysed, including the role of an expert witness.
|Academic unit:||Faculty of Society & Design|
|Subject title:||Specialist and Statutory Valuation|
Delivery & attendance
|Attendance and learning activities:||Attendance at all lectures and particularly in-class student presentations is necessary to comprehensively understand the subject material and learnings.|
|Prescribed resources:||No Prescribed resources. After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.|
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Differentiate the nature and role of the specialist and statutory property valuer.
- Distinguish and apply the various principles of property valuation, as practised by various professionals in the industry.
- Appreciate the challenges faced by individuals acting as professionals in a property valuation role, including in the role of an expert witness.
- Identify how various government statutes and policies impact on the value of various property interests.
- Examine various legal cases and their impact on property valuation principles.
|Written Report||Assignment 1 consists of in class presentation and written report.||20%||Week 7||2, 3, 4, 5.|
|Written Report||Assignment 2 consists of in class presentation and written report||30%||Week 12||1, 2, 3, 4.|
|Paper-based Examination (Closed) ^||Final exam||50%||Final Examination Period||1, 2, 3, 4, 5.|
- ^ Students must pass this assessment to pass the subject
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Discussion of the subject's purpose, topics, assignment tasks and student activities for the semester. Analysis of the role and responsibilities of a Valuer in relation to codes of conduct, ethics, IVSC, and professional bodies. An explanation of Valuers responsibilities and actions when acting as an expert witness or appearing in court.
Overview of the regulatory environment of property taxation systems with emphasis on rating and land tax valuations and how they are applied in different jurisdictions
Analysis and demonstration of the practices and procedures adopted by Valuers undertaking statutory valuations for rating and land tax purposes
An examination and interpretation of the statutes and legal precedents relevant to compulsory acquisition and compensation assessment and the valuation principles and processes which apply in practice.
The practices and procedures inherent within the land acquisition, resumption and compensation space.
Analysis of Valuers' duty of care and the requirement for risk management practices
The review and practical analysis of business valuations.
The review and practical analysis of motel valuations.
The review and practical analysis of the valuation of assets and infrastructure for financial reporting. These are typically the assets and infrastructure owned by different local governments around Australia undertaken for financial reporting purposes.
The review and practical analysis of child care centre valuations.
Each student must present to the class a review and practical analysis of a specialist valuation of a property class of their choice. All presentations must be on different property classes and cannot be any of those contained within the weekly topics.
Study Week to prepare for final exam
Extra study week due to Commonwealth Games
Final exam for the semester. Date to be advised later in the semester.