State and local governments require market valuations for the purposes of acquiring, disposing of and leasing improved and vacant land. Our specialist values team provides valuations and consultancy services to:
- determine compensation for dispossessed property owners
- review market values on property transfers to determine first home owners grant (FHOG) and stamp duty
- determine valuations of mining tenements and business interests, as required by the RevenueWA.
Government asset valuations
Our specialist values team maintains and assesses the fair value of the government property register (GPR) which comprises the land and property records of approximately 70 agencies. There are approximately 146,000 property records in the GPR representing a fiscal value in the order of $55.1 billion (for the 2021/22 year). This assessment is conducted annually to meet the financial reporting needs for the Department of Treasury, Department of Finance, and other State government agencies.