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  • Basis of Valuation

    • TMA-2.10.4

      In any valuation of an asset or business the basis of valuation must be clearly stated. Only in exceptional circumstances should it be qualified and in that event the valuer must explain the meaning of the words used. The material assumptions made in a valuation must be stated in the valuation.

      Amended: October 2019

    • TMA-2.10.5

      [This Paragraph was deleted in October 2019].

      Deleted: October 2019

    • TMA-2.10.6

      In the case of land currently being developed or with immediate development potential, in addition to giving the open market value in the state existing at the date of valuation, the valuation should include:-

      (a) The value after the development has been completed;
      (b) The estimated total cost, including carrying charges, of completing the development and the anticipated dates of completion and of letting or occupation; and
      (c) A statement whether planning or other regulatory consent has been obtained and, if so, the date thereof and the nature of any conditions attaching to the consent which affect the value.

      However, the value of the property should also be given as a net of any charges, levy, tax, etc.

      Amended: April 2013