Valuation News

The Importance of Accurate Valuations in Taxation Taxation is an intricate part of financial management, with property playing a pivotal role in many tax calculations. From capital gains to inheritance, the value attributed to a property can significantly affect the tax implications for an individual or entity. In regions like Melbourne, with its dynamic real estate market, obtaining a precise property valuation becomes even more critical. Capital Gains Tax and Property Valuation Capital Gains Tax (CGT) is levied on the

If you believe the valuation of your property is inaccurate, you have the right to contest it. Here are the key steps for disputing a property valuation: Review the Valuation Report Carefully review the property valuation report provided by the valuer or assessor’s office. Make note of any information you believe is inaccurate or missing. This may include: Square footage Number of bedrooms/bathrooms Property condition Comparable property sales Valuation approach and methodology Having a clear understanding of how the valuation

When you receive a home appraisal report, it contains valuable information about how your property’s value was determined. Learning to interpret the key elements will help you understand the appraisal process. Overview of Approaches to Value Appraisals estimate value using three approaches: Sales Comparison Approach: Compares your home to recent sales of similar properties. This is given the most weight in valuing single-family homes. Cost Approach: Calculates current construction cost to replace your home, minus depreciation. This approach has limited

When you receive a property valuation report, you may have some lingering questions. Here are 10 important questions to consider asking your valuer and the reasons for asking: 1. What valuation approaches did you use? It’s helpful to understand whether the sales comparison, cost, or income approaches were utilised to value your property. This provides insight into how the final estimate was determined. 2. How did you select the comparable properties? Learning more about the specific comparable sales used and