Property Values; Requesting a Market Value Appraisal

Each district administration office and each city with independent district status has established an expert committee for its respective area of jurisdiction. The members include representatives of government agencies as well as volunteer experts (such as architects). The committee generally operates autonomously and independently. The administrative office of the appraisal committee is the district administrative authority (district office or city independent of a district).

Upon request and for a fee, the Appraisal Committee issues appraisals of the market value of developed and undeveloped properties. A private individual may also request such an appraisal.

The fair market value is determined by the price that, at the time to which the valuation relates, in the ordinary course of business, based on the legal circumstances and actual characteristics, other qualities, and location of the property or other subject of the valuation, without regard to unusual or personal circumstances.

There are no deadlines or cutoff dates.

• Documents for Preparing the Expert Report
  Site plans, permit documents, land registry extracts, etc., are either obtained by the Appraisal Committee’s office itself or requested from the applicant.

Fees are charged for the preparation of market value appraisals. These fees are generally based on the value determined in the appraisal. In addition, depending on the specific case, out-of-pocket expenses may apply.