Definitions of terms commonly used in the 2022 Valuation Best Practice Specification Guidelines:

AVPCC: an Australian Valuation Property Classification Code.

Capital improved value: as defined in Section 2 of the Valuation of Land Act 1960.

Council: has the same meaning as in the Local Government Act 1989 and 2020.

Council contract manager: the council manager responsible for management, discharge and day-to-day operation of the contract.

Council general valuation: as defined in Section 2 of the Valuation of Land Act 1960.

Data elements: information required to be collected stored and maintained on each assessment and set out in 6.3 –Data Specifications of the 2022 VBPSG.

Dependant Assessment: assessment that has been apportionment in accordance with Section 2(3) of the Valuation of Land Act 1960 (each dependant assessment will have a header record).

Descriptors: other information components used to identify, describe or explain a valuation.

Estimated annual value: as defined in Section 2 of the Valuation of Land Act 1960.

Fire services property levy: has the same meaning as levy has in Section 3 of the Fire Services Property Levy Act 2012.

General valuation: as defined in Section 2 of the Valuation of Land Act 1960.

Header Record: contains the total valuation details and property description information relating to dependant assessments (total value assigned to header record will be apportioned to the related Dependant Assessments as per Section 2(3) of the Valuation of Land Act 1960).

Inspection: on-site examination of property to collect or confirm data requiring quantitative assessment (factual data such as land or building areas) or qualitative assessment (e.g. grading of building condition, quality of style).

Leviable land: has the same meaning as it has in Section 3 of the Fire Services Property Levy Act 2012.

Levels of value: Analysed unit(s) of value applied.

Net annual value (NAV): as defined in Section 2 of the Valuation of Land Act 1960.

High Risk Properties (HRP): significant or unique properties that possess one or more of the following qualities:

• major revenue significance to council
• unique property type
• rarely sold and/or leased.

Examples of these properties include major shopping centres, emerging industries, major manufacturing/ production, quarries etc.

Non-rateable leviable land: the same meaning as it has in Section 3 of the Fire Services Property Levy Act 2012.

Original Assessment (also referred to as Parent Assessment): relates to where an existing active assessment was created from (only used for supplementary submissions).

Prescribed date: date prescribed in Section 11 of the Valuation of Land Act 1960 at 1 January of every calendar year.

Rateable land: the same meaning as it has in Section 3(1) of the Local Government Act 1989 and 2020.

Rating authority: as defined in Section 2 of the Valuation of Land Act 1960.

Return: as defined in Section 2 of the Valuation of Land Act 1960.

Sale date: date of contract (date on which the contract of sale was signed – not the settlement date).

Sale price: consideration (transaction price) for a property.

Site value: as defined in Section 2 of the Valuation of Land Act 1960.

Specialist Property Guidelines: the set of documents established by the Valuer-General providing guidance to valuers conducting statutory valuations, including any templates used in preparing the valuation.

Sub-market Group (SMG): a set of properties, grouped by common attributes such as land use, improvement type, location, zoning and other market characteristics which should demonstrate similar changes in value.

Valuation authority: in relation to a municipal district, has the same meaning as defined in Section 2 of the Valuation of Land Act 1960, which is one of the following:

• the valuer general
• if the council for the municipal district has the power under Section 10 to cause general valuations to be made for the municipal district, the Council.

Valuation authority: in relation to non-rateable leviable land has the same meaning as defined in Section 2 of the Valuation of Land Act 1960.

Valuation Best Practice Specifications Guidelines: the guidelines prepared by the Valuer-General under Section 5AA of the Valuation of Land Act 1960.

Valuation record: the record of general and supplementary valuations established and maintained by the Valuer-General under Section 7C of the Valuation of Land Act 1960.

Valuation return: General valuation, completed, signed and dated by valuer, and ‘returned’ to the valuation authority.

Value drivers: data elements or other information components used to calculate a valuation.

Valuer: in relation to VBPSG means the valuer who has made the statutory declaration to the valuation authority that valuation and return will be impartial and true, as required under Section 13DH and 13O of the Act.