What is the Assessed Annual Value (AAV)?
An assessed annual valuation is an assessment of the market value of a property, at a specific date and in accordance with legislation. The Valuer-General determines the AAV under the Valuation of Land Act 2001. It is the gross annual income that, at the time of valuation, the owner of the property might reasonably expect to obtain from letting it to a tenant. The assessed annual value of the land cannot be less than 4 per cent of the capital value of the land.
An assessed annual valuation is an assessment of the market value of a property, at a specific date and in accordance with legislation. The Valuer-General determines the AAV under the Valuation of Land Act 2001 . It is the gross annual income that, at the time of valuation, the owner of the property might reasonably expect to obtain from letting it to a tenant. The assessed annual value of the land cannot be less than 4 per cent of the capital value of the land.
