Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

The document ceased to be valid since  March 17, 2018 according to Item 1 of the Resolution of the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition of March 9, 2018 No. 01/19-10/17

It is registered

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"

(as amended on 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;

the real estate of residential appointment (the apartments, individual apartment houses, other premises intended for permanent residence of citizens).

6. NSOI No. 12 is intended for the estimative organizations, appraisers and customers of estimative services and is subject to obligatory application when rendering services in real estate appraisal by methods of mass assessment.

7. Regulations and requirements of NSOI No. 12, and also the results received on their basis cannot be used for the purpose of, not established by this standard if other is not established by the legislation.

8. In case of application of NSOI No. 12 it is necessary to be guided by the Methodical instructions given in appendix to NSOI No. 12.

Chapter IV. Interrelation with accounting standards

9. When carrying out mass assessment are not used national or

international accounting standards. Also assessment procedures of real estate value for the purposes of financial reporting preparation cannot be connected with procedures of mass real estate appraisal.

10. The real estate value determined by methods of mass assessment can significantly differ from the cost of this property determined in accordance with the established procedure for the financial reporting.

11. Determination of the term "depreciation" in estimative practice needs to be distinguished in sense from the similar term used in financial accounting (depreciation charges). With respect thereto, appraisers shall use the terms "depreciation" or "the added depreciation" according to the general concepts and valuation principles reflected in the National standard of the Republic of Uzbekistan of property assessment (NSOI No. 1) "General concepts and valuation principles" (reg. No. 1604 of July 24, 2006) (Collection of the legislation of the Republic of Uzbekistan, 2006, No. 30, the Art. 302).

Chapter V. Requirements of the standard

12. The requirement of NSOI No. 12 for the appraiser is observance of the following stages of mass assessment:

determination of task for assessment and conclusion of the agreement on assessment object assessment; collection and information analysis;

application of approaches and evaluation methods;

carrying out calculations and determination of basic cost of object of assessment;

creation of the valuation report.

13. No. 12 for the customer is the requirement of NSOI:

together with the appraiser determination of task for assessment and conclusion of the agreement on assessment object assessment;

provision to the appraiser of necessary primary information;

calculation of the market (inventory) value of specific real estate object by application of pricing coefficients to basic cost of object of assessment determined by the appraiser.

§ 1. Determination of task for assessment and conclusion of the agreement on assessment object assessment

14. The task for assessment is constituted by the customer together with the estimative organization and drawn up as appendix to the agreement on assessment. The task for assessment shall contain:

name and short description of real estate objects; geographical location (administrative area);

name of the customer and his details; name of the estimative organization and its details; basis for evaluating;

purpose (task) of assessment and use of results of assessment; date of assessment;

the type of the determined cost answering assessment purpose;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.