1 Scope

This document:

1. builds on the models established in ISO 19152‑1 and ISO 19152‑2 to cover the valuation aspect of the Land Administration Domain Model (LADM);

2. provides an abstract conceptual model covering:

   1. values (assessed values, valuation procedures, mass valuation);

   2. transaction prices;

   3. sales statistics;

   4. valuation units (parcel (legal space parcel), building, condominium unit, valuation unit group).

3. provides terminology for the valuation component of land administration/georegulation, based on various national and international systems, that is as simple as possible in order to be useful in practice. The terminology allows a shared description of different formal or informal practices and procedures in various jurisdictions;

4. specifies a content model independent of encoding that can be employed as a basis for local, national and regional profiles for valuation processes; and

5. enables the combining of valuation information from different sources in a coherent manner.