The Specialist Values team at Landgate is responsible for providing: Market Valuations; Government Asset Valuations (which includes Insurance Valuations) and Mining and Business Interest Valuations. These services are conducted under section 39 of the Valuation of Land Act 1978 which permits the Valuer-General to provide valuations advice to any department, agency or local authority.
State and Local Government require Market Valuations for the purposes of acquiring, disposing and leasing improved and vacant land. The Specialist Values team at Landgate delivers such services as follows: valuations and consultancy services to determine compensation for dispossessed property owners; the review of market values on property transfers to determine First Owners Grant and Stamp Duty; and valuations of Mining Tenements and Business Interests as required by the Office of State Revenue.
Government Asset Valuations
The Specialist Values team also maintains and assesses the Fair Value of the Government Property Register (GPR) which comprises the land and property records of 71 agencies. There are approximately 148,500 property records in the GPR representing a fiscal value in the order of $53 billion (for the 2017/18 year). This assessment is conducted annually to meet the financial reporting needs for the Department of Treasury and Finance and other State Government Agencies.