Land: valuation: CG 20: ‘not negotiated’ valuation
The Valuation Office Agency will
- carry out an initial appraisal and where the taxpayer’s returned valuation can be readily accepted at this stage without detailed research, aim to report to you within an average of 5 working days of receipt by the VOA
- within 10 working days of receiving the form CG20 let you have an acknowledgement and advise you of the case reference and VOA contact details
- aim to provide you with a ‘not negotiated’ valuation on form VO1171 within an average period of 20 working days
- provide you with an update if the case is still outstanding after 30 working days and thereafter at 20-day intervals.
If the Valuation Office Agency considers that the ‘not negotiated’ procedure is inappropriate, for example, because of the complexity of the valuation, they will advise you accordingly and reclassify the case as a negotiated valuation.
The ‘not negotiated’ valuation is prepared on the basis of the information available to the Valuation Office Agency without contacting the taxpayer. Where information is lacking the VOA will make such assumptions as seem reasonable and unlikely to give rise to substantial error in valuation. If the taxpayer’s valuation falls within acceptable tolerances it will be accepted by the Valuation Office Agency. If not, you will receive an alternative valuation.