Overview
In this unit you will focus on valuations undertaken for statutory purposes, including the valuation of property for compulsory acquisition as well as rating and taxation valuations. You will examine the relevant legislation, theory and procedures relating to land acquisition, compensation and revenue raising. You will develop practical skills in statutory valuation and be able to prepare valuations for compensation.
Details
Pre-requisites or Co-requisites
Prerequisite: PROP11001
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 2 - 2024
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student feedback
Take-home exam scheduling confirmed too late
As a take-home exam the scheduling must consider timing conflicts. This is managed at a level beyond the unit coordinator. That said, the unit coordinator is to undertake all possible steps to have the date set as early as possible and communicate this with the class.
Feedback from Student feedback
Main assignment authenticity
Each year the main assignment adopts a new real property with either a real or hypothetical resumption/acquisition. This authenticity is appreciated by the students and the approach is to be continued.
- Apply the major legal concepts related to statutory valuation to real situations
- Identify the valuation approaches applicable to rating valuations throughout Australia
- Research at relevant government offices and internet provider services
- Demonstrate the responsibilities involved in statutory valuation practice.
The Australian Property Institute (API) has accredited this unit as part of the Bachelor of Property course. This unit contributes to the core knowledge field of the API in Statutory Valuation. The learning outcomes for the unit and the assessments have been designed around the accreditation requirements.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Written Assessment - 50% | ||||
| 2 - Take Home Exam - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Written Assessment - 50% | ||||||||||
| 2 - Take Home Exam - 50% | ||||||||||
Textbooks
The Law Affecting Valuation of Land in Australia
Edition: 6 (2020)
Authors: Alan Hyam
Federation
Annandale Annandale , NSW , Australia
ISBN: 9781760022334
Binding: Hardcover
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- CoreLogic/RPData sales system - See Property Gateway for access details.
- Property Course Gateway for CF56/CG87/CG88 (Moodle)
- Microsoft Office (Word, Excel, PowerPoint) or similar
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
s.boyd@cqu.edu.au
Module/Topic
Land Resumption and Acquisition
Chapter
Hyam chapter 12
Events and Submissions/Topic
Module/Topic
Acquisition of Land Act 1967 (Qld)
Chapter
Hyam chapter 12
Events and Submissions/Topic
Module/Topic
Principles of Compensation I
Chapter
Hyam chapter 13 & 14
Events and Submissions/Topic
Module/Topic
Principles of Compensation II
Chapter
Hyam chapter 15 & 16
Events and Submissions/Topic
Module/Topic
Measurement of Compensation and Report Writing
Chapter
Hyam chapter 17 & 18
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Land Acquisition Act 1989 (Cth)
Chapter
Land Acquisition Act 1989 (Cth)
Events and Submissions/Topic
Module/Topic
Property taxation—Local government, State and Federal
Chapter
See Moodle site for readings
Events and Submissions/Topic
Module/Topic
Land Valuation Act 2010 (Qld) I
Chapter
Land Valuation Act 2010 (Qld)
Events and Submissions/Topic
Module/Topic
Land Valuation Act 2010 (Qld) II
Chapter
Land Valuation Act 2010 (Qld)
Events and Submissions/Topic
Module/Topic
Compensation Valuation of Land Affected by Customary Title
Chapter
See Moodle site for readings
Events and Submissions/Topic
Module/Topic
Ethics, Standards and the Expert Witness
Chapter
Hyam chapter 19 & 20
Events and Submissions/Topic
Module/Topic
Mass Appraisal
Chapter
See Moodle site for readings
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
Valuation for compensation.
You are to find a property and complete a valuation for compensation assuming a partial compulsory acquisition following the full details found in Moodle
Week 8 Friday (6 Sept 2024) 11:45 pm AEST
Submit this file through the Moodle submission point by the due time.
Week 9 Friday (13 Sept 2024)
Core elements
- Presentation
- Property description
- Economic outlook
- Valuation approach
- Calculations
- Apply the major legal concepts related to statutory valuation to real situations
- Identify the valuation approaches applicable to rating valuations throughout Australia
- Research at relevant government offices and internet provider services
- Demonstrate the responsibilities involved in statutory valuation practice.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Team Work
- Information Technology Competence
- Ethical practice
2 Take Home Exam
Take-home open book and open web exam.
- You have three hours to complete and submit this examination paper. Late submissions will not be marked. If you encounter problems submitting your paper to Moodle, email it to your unit coordinator by the due time.
- This is an individual assessment, so collaboration with other students will result in an academic misconduct allegation for all students involved. This may result in a fail result for this assessment. Please note that your paper will be submitted through Turnitin.
Due date to be confirmed
Learning outcomes assessed:
- Apply the major legal concepts related to statutory valuation to real situations.
- Identify the valuation approaches applicable to rating valuations throughout Australia.
- Demonstrate the responsibilities involved in statutory valuation practice.
- Apply the major legal concepts related to statutory valuation to real situations
- Identify the valuation approaches applicable to rating valuations throughout Australia
- Demonstrate the responsibilities involved in statutory valuation practice.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Cross Cultural Competence
- Ethical practice
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
