Cadastral valuation models
2010
Baumane, V., Latvia Univ. of Agriculture, Jelgava (Latvia). Faculty of Economics
In accordance with legislative enactments cadastral or mass valuation shall be used for calculation of cadastral value, which is used for administration of real property tax. Cadastral valuation is based on the real property market information in market economics of European and other countries. There are some countries where taxes are calculated as a down payment area – expressed as a fixed amount per unit, depending on the land or buildings in use – the so-called normative value, but this practice is not common internationally, since the normative value does not describe the object, and it is not conducive to the economic development. The aim of the article is to survey the present cadastral valuation process in Latvia. The study provides the research results in the field of cadastral valuation, describes calculation of cadastral value reposing on base values and different models of cadastral valuation. The cadastral value shall be based on cadastre objects data of the State Cadastre of Real Property (hereinafter – Cadastre information system) as well as on the real property market information – information regarding purchases, lease, construction costs, real property market offer and demand, real property market activity, etc. Consequently, the cadastral valuation process can be implemented successfully implying the use of approved cadastral valuation models and proper data of cadastral objects.
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