PROP19001 - Statutory Valuation

General Information

Unit Synopsis

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

Level Undergraduate
Unit Level 3
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2023

Term 2 - 2024 Profile
Online

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).

Assessment Overview

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.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 50%
2. Take Home Exam 50%

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

Past Exams

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Previous Feedback

Term 2 - 2023 : The overall satisfaction for students in the last offering of this course was 100.00% (`Agree` and `Strongly Agree` responses), based on a 20.00% response rate.

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.

Source: Student evaluations
Feedback
The timing of the virtual classes and scheduled take-home exam do not suit some students.
Recommendation
Virtual classes will be scheduled outside general working hours (0900-1700 AEST) where possible. Take-home exams will be scheduled to coincide with virtual classes where possible.
Action Taken
Virtual class scheduled outside general working hours. Take-home exam scheduled to coincide as close as possible with the virtual class
Source: Student evaluations
Feedback
'The sound quality on some of these recordings was very bad and closed captions were not available'.
Recommendation
New recording equipment has been sourced for the next offering. Videos will be progressively updated with enhanced sound and captions.
Action Taken
New mic has appeared to resolve this problem.
Source: Student feedback
Feedback
Take-home exam scheduling confirmed too late
Recommendation
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.
Action Taken
Nil.
Source: Student feedback
Feedback
Main assignment authenticity
Recommendation
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.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Apply the major legal concepts related to statutory valuation to real situations
  2. Identify the valuation approaches applicable to rating valuations throughout Australia
  3. Research at relevant government offices and internet provider services
  4. 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
2 - Take Home Exam
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
6 - Information Technology Competence
8 - Ethical practice
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Written Assessment
2 - Take Home Exam