Evaluation Activity Development Prospects in Russia. Development of Evaluation Activity Standards

Deputy KPI Holding CEO Viktor Zhurba participated in the meeting of the Committee of the Chamber of Commerce and Industry of the Russian Federation for business in the field of real estate economics “Evaluation activity development prospects in Russia. Development of evaluation activity standards” and presented the report “Publication of Translated Standards of the International Association of Assessing Officers”.

IAAO mission is promotion of innovative solutions and high quality of property evaluation, conducting assessment and policy in taxation field through professional training, education, research and technical support.

One of the results of 80-year-long activities of IAAO is a set of standards on mass real estate evaluation for taxation purposes. 15 IAAO standards, apart from the assessment process, describe the multitude of related relevant issues, such as keeping records of taxation objects by the assessing officer, real estate market monitoring, interaction with the community, cost contestation and others. In modern Russian cadastral evaluation system many issues are not regulated, which causes violation of tax payers’ rights, injustice in tax burden distribution, and unpredictable outcomes of legal proceedings.

Russian translated version of English standards became available at the end of 2013. The edition was prepared by the Russian Board of Assessing Officers in cooperation with the Evaluation Management and Consulting Centre.

The new standards are expected to significantly improve the quality of results of cadastral evaluation in the Russian Federation and, as a consequence, to reduce negative effects in the society caused by introduction of the real estate tax.

The standards are intended for the expert community and public authorities during reformation of state cadastral evaluation system in the Russian Federation.

Standards of the International Association of Assessing Officers / Translated from English. — “Russian Board of Assessing Officers”. — Moscow: Maroseyka, 2013. — 472 p. ISBN 978-5-504-04000-4.

Download the presentation (PDF): Publication of Translated Standards of the International Association of Assessing Officers (IAAO)