You can buy a copy of the Economic Plantings Price Schedule from the Office of the Valuer General. The cost of the schedule is determined by the Valuer General. This schedule is only made available to Government Valuers, Government Lands Officers & Kiaps, Petroleum & Mining Industries to use as guide only for assessment purposes and in no such way to be used by landowners for compensation claims against economic plantings & structural improvements.
The office of the Valuer General does carry out compensation & acquisition valuation but we do not deal directly with customary land owners, only through Government Departments, Statutory Bodies & Agencies.
Compensation Valuation of customary land is assessed & formalized upon completion of formalities such as:
- Negotiation of land for development between land owners, government & the developers are completed & documented.
- Complying of land investigation report, to determine the rightful land owners.
- Customary land proposed for development is surveyed and registered.
- Land value is assessed, report & valuation formalized & documented and presented to the requesting agents.
Once you become a lease holder, meaning a Title Document is registered under your name you are legally bind to the terms & condition set in the Title . Land value reappraisal is assessed after every 10 & 20 years depending on the date of grant of your lease. A notice of lease rental appraisal is send to the leaseholder, stating the new annual land rental and the date of effective of the new rental which is normal the 1st of January of the new year after the date of valuation reappraisal.
- Reappraisals are based on the clause in the terms & conditions of the Title.
- If the clause is not in the Title, check the Act under which the Title is granted.
- Leases granted before 1962 would be 20 years reappraisal period
- Leases granted after 1962 would be 10 years reappraisal period
- Refer to Section 83 of land Act 1996(which is the amended version of 1962 Act) for reappraisal conditions
- All property valuations are calculated on an unimproved value freehold basis, that is, the market value of the land assuming that the improvements on the land do not exist.
- Sales of comparable blocks of land are used as a guide.
- If unimproved sales are not available, improved sales are used, the value of improvements being deducted.
- Each Local Authority area or Provincial Authority area is revalued at intervals of five (5) to seven (7) years and where necessary (e.g. subdivisions) interim valuations are made.
- Periodic revaluations are necessary due to changes in real estate demand, economic factors and land use.
- Where land is exclusively used for a single dwelling of primary production, any higher value for another is excluded.
The Valuer General Division provides the following valuation services;
- Make valuations under the provisions of the Valuation Act (Chapter 327) for the purposes of local authority rating, provincial government land tax and state lease rental
- Make valuations of real and personal property at the request of state departments, statutory bodies & agencies and general public
- Supply details of valuation rolls to the public on payments of prescribed fees
- Supply sales data information on payment of prescribed fees
- All requests must be made in writing for major valuation project and general valuation simply fill out a valuation request form. All valuation are subject to a valuation fee as per scale of fees.
- All applications must be made at the Valuer General's office and a deposit of K50.00 to be paid at the cashier office of the Department of Lands & Physical Planning, 4 th floor, Tower Two , Aopi Center , Waigani Drive and through Provincial Treasury Office in respective Provinces
- Purpose of the private valuation must be clearly stated in the valuation request by the client, consent from the owner is always required
- Under no circumstances valuation of a property for private purpose will be carried out without a proper inspection. The client must assist in allowing access on to premises to inspect the structural improvements internally & externally
- Under no circumstance private valuations requests will be accepted for court cases by Valuer General
- Private valuation on customary land is carried out only if the land is registered under Land Tenure Conversion and in accordance with Valuation & Land Acts
- Valuation certificate & report & valuation will be issued only after the full valuation fees are settled
- Client request
- Deposit of valuation fee
- Inspection of property by Valuer
- Sales Data Collections
- Market research & interpretation
- Valuation Analysis
- Valuation certificate, Report & valuation compilation
- Print, sign & bind final Valuation
After we receive all required information, it usually takes 6 - 10 days to complete the entire valuation. Depending on the nature of the assignment, report are between 4 to 10 pages
The office of the Valuer General is committed to providing valuations of the highest quality at the lowest costs. Our fees are based on Valuer General's scale of fees.
Depending on the type of valuation, our report & valuation are priced on the time, quality & efficiency, following preliminary discussion, we provide a proposal with the estimated cost and description of the services to be performed.
At present, property sales information can only be made available to Valuers.
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