Real estate assessment Kazakhstan
Real estate assessment Kazakhstan
Estimation of cost of real estate — process of determination of market value of object or the separate rights concerning the estimated real estate object. Estimation of cost of real estate includes: determination of cost of the property right or other rights, for example, the rights of rent, a right of use etc. concerning various real estate objects.In estimated practice there are different types of cost. The cost of real estate is subdivided into the following types:
- market value;
- inventory cost;
- investment cost;
- liquidating cost;
- cadastral cost.
At determination of market value of object of an assessment the most probable price at which the object of an assessment can be aloof for date of an assessment in the open market in the conditions of the competition when the parties of the transaction work reasonably is defined, having all necessary information, and any force majeure that is when are not reflected in the size of the price of the transaction:
- one of the parties of the transaction is not obliged to alienate object of an assessment, and other party is not obliged to accept execution;
- the parties of the transaction are well informed on a subject of the transaction and work in the interests;
- the object of an assessment is presented at the open market by means of the public offer typical for similar objects of an assessment;
- the price of the transaction represents reasonable remuneration for object of an assessment and coercion to transaction concerning the parties of the transaction from someone's party was not;
- payment for object of an assessment is expressed in a monetary form.
At determination of inventory cost collections IIRC (the integrated indicators of recovery cost) are used. On the basis of collections the recovery project cost of an assessment is determined, by means of coefficients recovery cost on the present pays off. For determination of inventory cost the actual wear of object of an assessment is subtracted from the calculated recovery project cost. Inventory cost is used for calculation of a tax on object of an assessment for 2012 inclusive.
When determining an investment project cost of an assessment the cost for the particular person or a group of persons at the investment purposes of use of object of an assessment established by this person (faces) is determined — investment real estate for obtaining the income in a type of a rent and an increase in value. At determination of investment cost, unlike determination of market value, the accounting of a possibility of alienation at investment cost in the open market is not obligatory.