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 with particular emphasis on the role of a valuer as an expert witness and risk management.
|Academic unit:||Faculty of Society & Design|
|Subject title:||Specialist and Statutory Valuation|
Delivery & attendance
|Attendance and learning activities:||The intensives for the subject will run as two distinct topics. One intensive will be run on Specialist Valuation whilst the other will run on Statutory Valuation. There is likely to be several guest lecturers during the intensives who specialise in either of the two areas of valuation studied in this subject. Many are senior staff who give up their valuable time for your benefit. It is a requirement that you attend both intensives every day, as by missing these classes you will miss out on vital information needed to complete this subject.|
|Prescribed resources:|| |
|[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|
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 Analyse and interpret legislation and case law in relation to compulsory acquisition and compensation payable and apply it in a case study.||15%||Week 6||1, 2, 3, 4, 5.|
|*Letter||Assignment 2 Advisory Letter Analyse and interpret legislation and case law in relation to statutory valuation for property taxation purposes and apply it in a case study. Write a letter of advice to a client based on your assessment and interpretation.||15%||Week 7||1, 2, 3, 4, 5.|
|Presentation||Class presentation during second intensive on a Statutory Valuation or Specialist Valuation topic as directed.||15%||Week 8||1, 2, 3, 4, 5.|
|Written Report||Assignment 3 Prepare a written report on a Statutory or Specialist Valuation topic as directed. The topic for this report will be the same as the topic on which students deliver a class presentation in Week 8.||15%||Week 12||1, 2, 3, 4, 5.|
|Paper-based Examination (Closed)||End-semester exam||40%||Final Examination Period||1, 2, 3, 4, 5.|
- * 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.
Accessibility and Inclusion Support
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.