Prawne i merytoryczne aspekty wyceny nieruchomości na potrzeby ustalania opłaty planistycznej

The Act of March 27, 2003, on spatial zoning plan and development, regulates establishing zoning plan fees. Thus, the executive bodies of the municipalities have legally created instruments to collect the fee if the conditions outlined in the Act are met. Amendments to this provision resulted in inaccuracies in establishing the fee. The zoning plan fee is established based on the increase in the value of the real property, taking into account two legal statuses. The real estate appraiser confirms the change in the value of the real property in the appraisal report, which constitutes evidence in the proceedings for determining the amount of the zoning fee.In practice, the determination of the zoning plan fee causes many misunderstandings and problems. The main reason for them is the difference in the value of the real property. It becomes the basis for the municipality’s claims against the property owner. Owners (perpetual usufructuaries), in most cases, take action to reduce the calculated difference in value. Most often, they question the correctness of the real estate appraisal and the way it was documented in the appraisal report.The article presents selected charges directed at real estate appraisers concerning the correctness of property valuation for this purpose, with a commentary supported by legal regulations and court rulings (judgments of the Supreme Administrative Court and the Supreme Administrative Court). In the paper, some findings of the Local Government Appeal Colleges are also indicated.

Prior information in econometric real estate appraisal: a mixed estimation procedure

PurposeThe purpose of this paper is to present how prior knowledge about the impact of real estate features on value might be utilised in the econometric models of real estate appraisal. In these models, price is a dependent variable and real estate features are explanatory variables. Moreover, these kinds of models might support individual and mass appraisals.Design/methodology/approachA mixed estimation procedure was discussed in the research. It enables using sample and prior information in an estimation process. Prior information was provided by real estate experts in the form of parameter intervals. Also, sample information about the prices and features of undeveloped land for low-residential purposes was used. Then, mixed estimation results were compared with ordinary least squares (OLS) outcomes. Finally, the estimated econometric models were assessed with regard to both formal criteria and valuation accuracy.FindingsThe OLS results were unacceptable, mostly because of the low quality of the database, which is often the case on local, undeveloped real estate markets. The mixed results are much more consistent with formal expectations and the real estate valuations are also better for a mixed model. In a mixed model, the impact of each real estate feature could be estimated, even if there is no variability in the sample information. Valuations are also more precise in terms of their consistency with market prices. The mean error (ME) and mean absolute percentage error (MAPE) are lower for a mixed model.Originality/valueThe crucial problem in econometric property valuation is that it involves the unreliability of databases, especially on undeveloped, local markets. The applied mixed estimation procedure might support sample information with prior knowledge, in the form of stochastic restrictions imposed on parameters. Thus, that kind of knowledge might be obtained from real estate experts, practitioners, etc.

RELIABILITY OF DEPRECIATED REPLACEMENT COST TO OTHER METHODS IN VALUATION OF RELIGIOUS PROPERTY, A CASE STUDY OF ANSARUDEEN MOSQUE, ILORIN METROPOLIS

Mosque valuation is a highly specialized method of real estate appraisal that necessitates not only a detailed understanding of the many concepts and procedures of general appraising, but also an in-depth understanding and expertise in order to arrive at an accurate estimate of market value. Using cross-sectional statistics, this study investigates the reliability of depreciated replacement cost in valuing specialized property. For the purpose of gathering data for this analysis, two separate sets of questionnaires were used. The first questionnaires were distributed to a licensed estate surveying firm in Ilorin, Kwara State. The Mosque Committee, on the other hand, received the other collection of questionnaires. The questionnaire's questions delved into the biographical details of the Registered Estate Surveyors. Descriptive statistics were used to interpret the data. Depreciated Replacement Cost is the most accurate method of valuation of Specialized Property, the Study revealed that, due to the specific nature of Specialized Property, such as the lack of rental evidence, the infrequency with which it is sold or rented, and the fact that it is not commonly used for other purposes. To save valuers a lot of tears, guidelines on unit cost of construction for buildings and depreciation should be made available.