Cadastral Valuation of Real Cadastral Valuation of Real Estate in Russia Estate in Russia Presented at the International Property Tax Institute 15 th Annual Conference Latest Trends in Property Tax and Valuation ● UK and Global Perspective 4-5 September 2013 Perthshire, Scotland By: Kanateva Irina, “GKR” LLC, Russia Event sponsors: International Property Tax Institute Institut international de la fiscalité immobilière
State cadastral evaluation State cadastral evaluation The Subject of The Russian Self- Federation, regulatory RF organization Valuer Filing the Filing the Customer CADASTRAL CADASTRAL VALUE VALUE to to Rosreestr The State The State Cadastre of real Cadastre of real Estate Estate The Subject of The Russian Federation, RF Selection of the contractor and conclusion of the agreement Investigation of Investigation of disputes on the disputes on the results results 2
The main stages of the cadastral value determination The main stages of the cadastral value determination 1. Real estate market analysis 2. Analysis of the evaluation objects list 3. Collection of information about the values of the pricing factors 4. Collection of market information 5. Construction of the statistical estimation models and determination of the property market value 6. Making a report on cadastral value determination International Property Tax Institute Institut international de la fiscalité immobilière 7. Expert review of the Report 3
The State Cadastre of real Estate The State Cadastre of real Estate International Property Tax Institute Institut international de la fiscalité immobilière 4
Real estate market analysis Real estate market analysis What Where Analysis of the economic and geographical position Official sites of the Executive bodies Analysis of the economic and geographical position Official sites of the Executive bodies of the subject of the Russian Federation of the subject of the Russian Federation Analysis of the current socio-economic conditions of Analysis of the current socio-economic conditions of The laws on administrative-territorial division The laws on administrative-territorial division development of a subject of the Russian Federation development of a subject of the Russian Federation Real estate market analysis Reviews of the real estate market Real estate market analysis Reviews of the real estate market The announcement of the purchase and sale of The announcement of the purchase and sale of 10 20 real estate objects real estate objects 8 16 БИПЦ, левая шк. О б м е н н ы й к у р с р у б л я , % 6 12 И П Ц , Б И П Ц 4 8 Инфляция (ИПЦ), лев.шк. Other sources 2 4 Other sources 0 0 а п р . н о я б . а п р . я н в . ф е в . м а р т м а й и ю н ь и ю л ь а в г. с е н . о к т . д е к . я н в . ф е в . м а р т м а й и ю н ь -2 -4 -4 -8 2011 2012 Обменный курс рубля, % (правая шк.) Валовой внутренний продукт Gross domestic product Gross domestic product -6 -12 210% 200% 190% 180% 170% 160% International Property Tax Institute 150% Institut international de la fiscalité immobilière 140% 1 2 3 4 5 6 7 8 910 11 121 2 3 4 5 6 7 8 910 11 121 2 3 4 5 6 7 8 910 11 121 2 3 4 5 6 7 8 910 11 121 2 3 4 5 6 130% 2008 2009 2010 2011 2012 120% без исключения сезонных и календарных факторов 5 с исключением сезонных и календарных факторов (январь 1995 - 100%)
The State Cadastre of real Estate The State Cadastre of real Estate Objects for evaluation BUILDING, PREMISES 13. CONSTRUCTIONS Housing stock Uninhabited stock 7. objects for office and business 1. multi-family residential 3. objects designed for transport purposes building objects storage 8. health-resort objects 4. garden objects, garden 2. individual residential construction objects building objects 9. objects for industrial purposes 5 . objects used for trade, public catering, consumer services, leisure and entertainment, including multi-purpose objects 10. objects of social infrastructure 6. items intended for temporary 11. ports, railway stations, stations residence objects 12. Objects of other purposes International Property Tax Institute Institut international de la fiscalité immobilière 6 Objects under construction Objects under construction
Analysis of the list of objects of the assessment, collection of information information Analysis of the list of objects of the assessment, collection of including data about the values of pricing factors including data about the values of pricing factors Rosreestr Special software Special software Normative legal acts on administrative- territorial division Bodies of local self-government Statistics service Report about the Report about the determination of the determination of the cadastral value cadastral value Open sources of information International Property Tax Institute Institut international de la fiscalité immobilière 7
Construction of the statistical models of evaluation and determination nation Construction of the statistical models of evaluation and determi of the market value of real estate objects of the market value of real estate objects Modelling based on Definition of market value Statistical modeling of mass valuation methods standard unit 1 group 4 group 1 group 4 group multi-family residential building objects multi-family residential building objects garden objects, garden construction objects garden objects, garden construction objects (urban settlements) (the cost approach) (urban settlements) (the cost approach) 2 group 2 group individual residential building objects individual residential building objects «Objects with incomplete «Objects with incomplete characteristics» subgroup characteristics» subgroup «Objects under construction» «Objects under construction» subgroup subgroup Other subgroup Other subgroup 12 group 12 group Objects of other purposes (cost approach) Objects of other purposes (cost approach) International Property Tax Institute Institut international de la fiscalité immobilière 8
Making a Report on the cadastral value determination and Expert review of review of Making a Report on the cadastral value determination and Expert the Report the Report International Property Tax Institute Institut international de la fiscalité immobilière 9
Number of real estate objects that are subject to state cadastral valuation l valuation Number of real estate objects that are subject to state cadastra Number of real estate objects included for in the State cadastre that are subject to state cadastral valuation : 790 67 817 (95 %) Number of real estate objects included for in the State cadastre that are not subject to state cadastral valuation : 3 400 928 (5%) Far Eastern Federal district North-Western Federal district Central Federal district Ural Federal district Volga Federal district Siberian Federal district Southern Federal district North-Caucasian Federal district The Federal districts of the Russian Federation International Property Tax Institute Number of real estate objects that are subject to state cadastral valuation Institut international de la fiscalité immobilière Number of real estate objects that are not subject to state cadastral valuation 10
International Property Tax Institute Institut international de la fiscalité immobilière
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