VAL6STV Statutory Valuations 3

Statutory Valuations
Module Descriptor
Module Code: VAL6STV

Version: 7.00
Status: Final
Date: 25/04/2023
Summary Module Details

Module details
Module Title: Statutory Valuations
Module Leader: David Hunt
Module Mode: Supported online learning
Semester: Autumn (UK) & Spring (UK)
Level: 6
Credits: 20
Learning Hours: 200
Contact & Study Hours:
Directed Study Time: 90 hrs (45%)
Self-Directed Study Time: 50 hrs (25%)
Assessment Study Time: 60 hrs (30%)
Assessment Type:
Coursework: 100%
Computer Marked Assessment: 0%
Self-directed Research Project: 0%
Portfolio: 0%
Module Summary
The aim of this module is to equip the student with the knowledge and skills to carry out
valuations for statutory purposes, specifically for compulsory purchase, planning
compensation and rating. The module also demonstrates how valuation principles and
practice are applied to the statutory (artificial) context, the relevance of relevant case law to
assessments and the principles that underpin both disciplines. Students’ understanding and
skills within these disciplines are enhanced in order to provide appropriate and reflective
advice and valuations to (non-specialist) clients.
Taken on which Programmes

BSc (Hons) Real Estate Management (C)
Core (C) or Elective (E)
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Module Aims
This module enables students to:
• Understand the legal principles and practices which underpin both Compulsory
Purchase and the compensation that flows from it; and Property Taxation – Business
Rates and Council Tax;
• Develop a competence in the application of valuation and management skills required
within these topics;
• Develop an awareness of how clients might be affected by such statutory applications
and to provide appropriate client advice; and
• Develop a critical understanding of these areas of government intervention within a
general understanding of “fairness” and client expectations.
Module Learning Outcomes

LO1. Demonstrate a systematic understanding of statutory valuation and the law of Great
Britain that relates to compulsory purchase.
LO2. Prepare reasoned valuations for compulsory purchase and planning compensation
using statutory rules and provisions; and demonstrate an ability to critically evaluate
compulsory purchase and compensation globally.
LO3. Deploy investigation and analysis techniques to critically evaluate arguments,
assumptions, concepts and data and provide reasoned advice on compulsory
purchase and/or property taxation.
LO4. Demonstrate a systematic understanding of liability for business rates and council tax,
rating exemptions and reliefs; how property taxation can affect sustainability of local
communities; and apply the main methods of valuation.
LO5. Critically evaluate statutory provisions for compensation and/or property taxation, their
relationship to principles of ‘fairness’ and ‘equity’ and communicate information, ideas,
problems and solutions to specialists and non-specialists in a professional manner.
Indicative Module Content

Module topics
• Law of Compulsory Purchase
Compulsory Purchase powers, procedure for making and obtaining compulsory
purchase orders, purchasing land by agreement, appeals, effect of statutory powers,
procedure for acquisition including entry on land and role of Lands Tribunal or
equivalent. Discussion of the equitable process of acquisition; assessment of what
might be termed ‘fair’ compensation; issues of betterment etc. in the light of
internationally recognised good practice.
• Assessment of Compensation
Statutory and judicial law as applied to the assessment of compensation for land
taken, injurious affection and disturbance. Application of valuation principles and
practice, including relevant case studies.
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• Purchase and Blight notices, Betterment and Compensation for

Planning
Rights of landowners to force authorities to purchase land as a result of adverse
planning decisions (Purchase Notices) and the failure to achieve market value for
property as a result of adverse planning proposals. Compensation for a range of
adverse planning decisions including the revocation or modification of planning
permission, including relevant case studies. Assessment of compensation.
• Local Taxation
Introduction to local taxation. Definition of rateable value and rateable occupation.
Exemptions and reliefs. Rateability of plant and machinery. Local and central lists.
Procedures for the alteration of the lists. Proposals and appeals, including tribunals
and completion notices.
• Basis of Valuation for Rating

Assumptions, including the Hypothetical Tenancy and their implications. Date of
valuation, methods of valuation for a range of property types, including shops,
offices, factories and specialised properties.
• Sustainability and Property Taxation

How the sources of property taxation, the purposes to which the yield is put and the
nature of provisions of the taxes themselves can enhance sustainable uses of land
and buildings and provide other social benefits.
This content will be reviewed and updated regularly to reflect the legal, moral and financial
changes in professional standards and practice.
Overview of Summative Assessment

Module Word count
learning Assessment or Weighting
outcomes equivalent
LO1, LO2, Assessment 1 2,000 40%
LO3, LO5
Coursework
LO1, LO3, Assessment 2 3,000 60%
LO4, LO5
Coursework
Module Pass Mark (as a weighted average of all assessments): 40%
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Key Module Learning Resources

Core Sources and Texts
The core reading resources within each module will be provided via the specific Virtual
Learning Environment (VLE) module pages and within the e-Library. Additional reference
material and supplementary resources to support your studies are available through the
UCEM e-Library.
Module tools
Students will have access to study materials, dedicated academic support, student forums,
and learning activities via an online learning platform (VLE).
The module page on the VLE is broken down into structured study weeks to help students
plan their time, with each week containing a mixture of reading, case studies,
videos/recordings and interactive activities to go through. Online webinars/seminars led by
the Module Leader can be attended in real time and provide opportunities to consolidate
knowledge, ask questions, discuss topics and work through learning activities together.
These sessions are recorded to support students who cannot attend and to enable students
to recap the session and work through it at their own pace. Module forums on the VLE
provide further opportunities to discuss topics with other students, complete collaborative
work and get extra help from the module team.
Professional online resources

The e-Library provides access to trusted, quality online resources, selected by subject
specialists, to support students’ study. This includes journals, industry publications,
magazines, academic books and a dissertation/work-based library. For a list of the key
industry specific and education resources available please visit the VLE e-Library.
Other relevant resources

Access is also provided to further information sources that include the British Library and
Open University UK catalogues, as well as providing a monthly current awareness service
entitled, Knowledge Foundations - a compendium of news, research and resources
relating to the educational sector and the Built Environment.
The module resource list is available on the module website and is updated regularly to
ensure materials are relevant and current.
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Statutory Valuations

Module Code: VAL6STV

Summary Module Details

Taken on which Programmes

© UCEM 25/04/2023 v7.00 Page 1 of 4

Module Learning Outcomes

Indicative Module Content

© UCEM 25/04/2023 v7.00 Page 2 of 4

• Purchase and Blight notices, Betterment and Compensation for

• Basis of Valuation for Rating

• Sustainability and Property Taxation

Overview of Summative Assessment

© UCEM 25/04/2023 v7.00 Page 3 of 4

Key Module Learning Resources

Professional online resources

Other relevant resources

© UCEM 25/04/2023 v7.00 Page 4 of 4

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