Statistical analysis Calculate ratio statistics as set out in Appendix C on completed valuations. Conduct exception reporting and analysis of value shifts, as per Appendix D and E. Provide individual ratio on sale properties (refer Appendix C). Provide a summary of ratio statistics for each SMG. Discuss the conclusions drawn from the sales ratio statistics, providing justification where tolerances have not been met. Discuss conclusions drawn for SMGs where few sales exist. When there is no sale evidence for a SMG, discuss how levels of value and influencing factors have been applied. Provide shift statistics for sale and non-sale properties – as set out in Appendix D – and provide reasons if tolerances were not met. Provide exception reports as set out in Appendix E. Provide valuation GIS maps as per Appendix F. Track sales since January 2016 as set out in Appendix B. Provide tracking graph and consider market shifts since the 2016 valuation for each SMG. Comment on whether applied values capture market shifts. 2.3 Stage 3A preliminary valuations – nominated properties Stage 3A is to be submitted not before 1 July 2017 and no later than 31 August 2017 This requires the undertaking of preliminary valuations for all nominated (3A) properties using the available Municipal Group of Valuers (MGV) or VGV nominated property templates. If templates are unavailable, a separate spreadsheet setting out the detailed valuation methodology and calculations for each nominated property is required. Nominated properties possess one or more of the following qualities: major revenue significance to rating authorities unique property type rarely sold and/or leased. 2.3.1 Inspection requirements A comprehensive on-site inspection of each property is required. 2.3.2 Data collection The data collected will be of sufficient quality to meet the requirements for certification. Where applicable, this may include up-to-date: sale and/or lease information on the property rent and outgoings schedules details of both land and building
Sales, lease and asset analysis Collect sales data for each nominated property type: research sales of comparable properties analyse sales for each nominated property type. Collect lease data for each nominated property type: research lease of comparable properties analyse leases to determine rental levels to be adopted. Collect asset and financial information for each nominated property type: research and analyse industry replacement costs, economic life, obsolescence allowances and financial viability of the industry. Analyse asset registers, financial statements and other relevant reports obtained for relevant nominated property. Identify items of plant and equipment infrastructure to be included in the valuation. Describe the method used to analyse for: vacant land improved properties. Include detailed sales analysis spreadsheet for each nominated property type. Each sale to be analysed down to all components of value applicable to the nominated property type. Display and describe the method used to analyse leases. Include rental analysis spreadsheets showing a breakdown of rental evidence into components of value applicable to the nominated property type. Each rent to be analysed down to all components of applicable. For all items applicable to a Depreciated Replacement Cost (DRC) approach, provide an analysis that includes benchmark replacement costs, economic life and obsolescence allowance. commentary on the viability of the industry. Preliminary valuations Prepare valuations for each nominated property. Attend VGV convened valuation conferences. Complete exception reporting as set out in Appendix E. Provide: an overview of the valuation methodology adopted for each of the nominated properties individual spreadsheets showing valuation calculations. The template issued in accordance with the Specialist Property Guidelines should be used. All adopted assumptions and levels must be supported and substantiated with market evidence. Provide the valuation data including, where applicable, separate land and buildings and plant and equipment components and market evidence for each property. Provide exception reports as set out in Appendix E. 2.4 3B commercial and industrial properties
Sales analysis Collect sales data on commercial, industrial and specialist properties: prepare a database from all available sources inspect all sale properties, confirm property data reconcile sales comprising multiple assessments with respective header assessment. Analyse sales to an appropriate unit of comparison including: of vacant and near-vacant land improved sales to derive an ‘analysed site value’ value of improvements calculate passing yields on leased sale properties and imputed yields on properties sold with vacant possession direct comparison rates. Classify all sales from 1/1/2016 into the following categories: simp (sale improved) svac (vacant land sale) ex (excluded sale) trk (tracking sale). Provide valid justification for sales that have been excluded. Include sales analysis spreadsheets. Each sale to be analysed down to the adopted unit of comparison for the respective property Provide a report with the following information to clarify the sales analysis methodology: legend for spreadsheet codes, row or column headings or other descriptors impact of planning scheme, zoning, permit or permit refusals or planning issues impact of heritage registration or related issues any other allowance made in analysis. Develop levels of value to be applied from analysed sales. Provide look-up tables/matrices derived from sales analysis for: site values capitalisation rates improvement values adjustment or influencing factors adopted. Address by SMG in submission: key sales used and brief market commentary adopted levels of value for components used in valuation calculations (e.g. value ranges, look-up tables, matrices) adjustment or influencing factor tables that adjust the adopted levels of value in the valuation calculation.
546 Kennel/Cattery Land developed with specialist infrastructure for use as a kennel and/or cattery. 55 Horticulture Fruit and Vegetable Crops 550 Market Garden – Vegetables Land used for the planting of vegetable crops. 551 Orchards, Groves and Plantations Land used for the planting of for the production of fruit and nuts, e.g. olives, stone fruits, tropical fruits, citrus. 56 Horticulture – Special Purpose Structural Improvements 561 Vineyard Land developed with specialist infrastructure to facilitate the growing of grapes. 562 Plant/Tree Nursery Land used for the propagation, growing and storage of plants. 563 Commercial Flower and Plant Growing – (outdoor) Land used for the propagation, growing and storage of flowers and plants. 564 Glasshouse Plant/Vegetable Production Land developed with specialist infrastructure for the indoor propagation and growing of plants and plant crops. 57 Forestry – Commercial Timber Production 570 Softwood Plantation Land used for the growing and harvesting of softwood trees, e.g. Radiata Pine. 571 Hardwood Plantation Land used for the growing and harvesting of hardwood trees, e.g. Blue Gum. 572 Native Hardwood (standing timber) Land used for the growing and harvesting of native trees within a revegetated area. 58 Aquaculture 580 Oyster Beds Land developed with specialist infrastructure used for the cultivation of oysters. 581 Fish Farming – Sea Water Based Land developed with specialist infrastructure used for based fish farming. 582 Yabby Farming Land developed with specialist infrastructure used for yabby farming. 583 Aquaculture Breeding/Research Facilities/ Fish Hatchery Land upon which special purpose aquaculture breeding and/or research facilities are constructed. Includes the breeding and growing of fish for commercial purposes. Code Infrastructure and utilities (industrial) Description 60 Vacant 600 Vacant Land Vacant land reserved or capable of being developed for infrastructure purposes. 601 Unspecified – Transport, Storage, Utilities and Communication Vacant land reserved or capable of being developed for transportation, storage, utilities and communication uses. 61 Gas or Fuel
680 Port Channel Designated channel used as a shipping waterway. 681 Port Seabed adjoining a wharf and developed with infrastructure used for the berthing of ships. 682 Port Wharf/Pier and Apron – Cargo Land developed with specialist infrastructure to facilitate the movement of containers and cargo to and from ships. 683 Wharf – Storage Sheds Land developed with enclosed storage facilities within a wharf. 684 – Passenger Terminal and Ferry Pier Facilities Land developed with passenger terminals and other facilities within a wharf or pier. 685 Piers, Storages and Slipways Land developed and used for the maintenance and launching of boats. 686 and Jetties Land developed with limited infrastructure used for recreational boating purposes. 687 Marinas and Yacht Clubs Land developed with specialist infrastructure used for the wet and dry storage of leisure boats. 688 Dockyard, Dry Dock and/or Ship Building Facility Land developed with specialist infrastructure used for the repair, maintenance, and construction of ships. 689 Lighthouse and Navigation Aids Land developed with specialist infrastructure used to assist in sea navigation. Code Infrastructure and utilities (industrial) Description 69 Communications, including Print, Post, Telecommunications and Airwave Facilities 690 Post Offices Land used for the collection/ distribution of mail and the sale of products associated with that use. 691 Postal Exchange/Mail Sorting Centres Land developed and used for the sorting of mail. 692 Post Boxes Land developed with a single receptacle for the posting of mail. 693 Telecommunication Buildings/Maintenance Depots Land developed and used for the maintenance of telecommunication installations. 694 Telecommunication Towers and Aerials Land developed with specialist infrastructure used for the transmission of telecommunication signals. be stand alone or affixed to buildings. 694.1 Unspecified 694.2 Telecommunication Tower 694.3 Telecommunication Aerial 695 Lines, Conduits and Special Purpose Below Street Level Communication Line Tunnels – not being sewers (through Land developed with cable lines, conduits and special purpose, below street level and communication line tunnels used for telecommunication purposes.
easements, freehold and public land) 696 Television/Radio Station – Purpose Built Land developed with specialist infrastructure used for the production/ recording of television and radio programs. 697 Printing Works/Press Land developed with specialist infrastructure and used for printing works, e.g. newspaper print, magazines. 698 Telephone Exchange – Purpose Built Land developed with specialist infrastructure used to facilitate the transmission of telephonics. Code Community Services Description 70 Vacant or Disused Community Services Site 700 Vacant Health Services Development Site Vacant land with a permit approved or capable of being developed for health purposes, e.g. hospital site. 701 Vacant Education and Research Development Site Vacant land with a permit approved or capable of developed for education purposes, e.g. school/university site. 702 Vacant Justice and Community Protection Development Site Vacant land with a permit approved or capable of being developed for justice and community protection purposes, e.g. police station, court house. Code Community Services Description 703 Vacant Religious Purposes Development Site Vacant land with a permit approved or capable of being developed for religious purposes, e.g. church, temple, synagogue site. 704 Vacant Community Services Development Site Vacant land with a permit approved or capable of being developed for community services, e.g. clubrooms. 705 Vacant Government Administration Development Site Vacant land with a permit approved or capable of being developed for government administration purposes, e.g. civic purposes. 706 Vacant Defence Services Development Site Vacant land with a permit approved or capable of developed for defence purposes, e.g. barracks. 707 Cemetery Land permitted to be used as a cemetery. 71 Health 710 Public Hospital Land developed and used as a hospital funded by the government for public patients. 711 Private Hospital Land developed and used as a non-government funded hospital for private patients. 712 Welfare Centre Land developed and used for the purposes of providing welfare services to the community. 713 Community Health Centre Land developed and used as consulting facilities, for a range of public health issues to the wider community. 714 Centre for the Mentally ill Land developed with specialist facilities and used for the treatment of the mentally ill. Includes rehabilitation clinics. 715 Day Care Centre for Children Land developed and permitted to be used as a day care centre of children by a licensed operator.