Guideline for Statutory Valuation of Contaminated Land

This guide provides comprehensive instructions on the statutory valuation of contaminated land as per the Land Valuation Act 2010 (LVA). It outlines the responsibilities of landowners in notifying valuers about contamination levels and types, as well as the associated costs for remediation. The document emphasizes the importance of reviewing relevant registers, such as the Environmental Management Register (EMR) and Contaminated Land Register (CLR), to determine if a site has been affected by contamination. It details the impact of contamination on property value and land use, highlighting that each case must be assessed individually. The guide also discusses the highest and best use (HBU) concept, explaining how current and alternate uses of the property can influence valuation. Furthermore, it addresses the need for landowners to provide evidence of contamination through site investigation reports. The guideline serves as a crucial link between legislation and valuation practices, ensuring that statutory valuations reflect current market conditions and stakeholder expectations.