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Ministry of Justice

Republic of Uzbekistan

On May 8, 2012 No. 2359

RESOLUTION OF THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON MANAGEMENT OF THE STATE-OWNED PROPERTY

of March 25, 2012 No. 01/19-18/06

About approval of the National standard of assessment of the 211th property of the Republic of Uzbekistan (NSOI No. 12) "Real estate value assessment for the purpose of the taxation by methods of mass assessment"

(The last edition from 26-05-2016)

According to the Law of the Republic of Uzbekistan "About estimative activities" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1999, No. 9, the Art. 208), the resolution of the President of the Republic of Uzbekistan of April 24, 2008 No. PP-843 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" (2008, No. 18, the Art. 145) the State committee of the Republic of Uzbekistan on management of state-owned property decides collection of the legislation of the Republic of Uzbekistan:

1. Approve the National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 12) "Real estate value assessment for the purpose of the taxation by methods of mass assessment" according to appendix.

2. This resolution becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

 

Acting chairman

A. Abdukhakimov

Appendix

to the Resolution of the State committee of the Republic of Uzbekistan on management of state-owned property of March 25, 2012 No. 01/19-18/06

The national standard of assessment of property of the Republic of Uzbekistan (NSOI No. 12) "Real estate value assessment for the purpose of the taxation by methods of mass assessment"

This National standard of assessment of property (NSOI No. 12) according to the Law of the Republic of Uzbekistan "About estimative activities" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1999, No. 9, the Art. 208), the resolution of the President of the Republic of Uzbekistan of April 24, 2008 No. PP-843 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" (The collection of the legislation of the Republic of Uzbekistan, 2008, No. 18, of the Art. 145) determines normative regulation of estimative activities in the Republic of Uzbekistan.

Chapter I. General provisions

1. The purpose of NSOI No. 12 is establishment of procedure for carrying out mass assessment of real estate objects.

2. The main objectives of NSOI No. 12 are:

ensuring coordination of actions of appraisers and the body performing state registration of the rights to the real estate, when using by the established this standard and other regulatory legal acts regulating estimative activities, concepts and rules of carrying out mass real estate appraisal;

determination of the procedures designed to help objectivity and improvement of quality of assessment;

establishment of single requirements to primary information, contents of the valuation report and to the statement of material excluding ambiguous interpretation of valuation reports;

assistance to forming of effective national system of assessment of property.

3. The methods of mass assessment provided by NSOI No. 12, are used for groups of real estate objects with the limited number of characteristics of objects.

Chapter II. Terms and determinations

4. In NSOI No. 12 the following terms and determinations are used:

analog - similar on the main economic, physical and to others

to characteristics to assessment object other object which price is known from the transaction which took place under similar conditions or from the proposal made in the competitive market;

basic cost - assessment project cost received with use of the provided methods of mass assessment before application to it pricing coefficients;

the customer - the body performing state registration of the rights to the real estate;

constructive structure - structure of construction elements (the base, walls, floors, partitions, roof etc.) of real estate object with indication of type of construction materials;

mass assessment - process of cost determination of object of assessment on the basis of grouping of the real estate objects having similar characteristics, with use of the accepted standard approaches of assessment;

market (inventory) value - assessment project cost determined according to NSOI No. 12;

pricing coefficients - the coefficients applied to basic cost of object of assessment, considering pricing factors;

pricing factors - conditions within which the structure and level of the price is created. Indicators which have significant effect on the cost of objects of assessment and can be authentically determined and objectively measured.

Chapter III. Scope

5. In case of cost determination of the real estate by methods of mass assessment object of assessment is 1 square meter of total area:

the uninhabited real estate, belonging to physical persons;

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