To date, the market economy uses the inventory value of real estate. It is used in the calculations of state bodies and has its own rights. However, it is inferior to other types of value , taking into account already outdated methods of making inventory value.
The concept
An inventory assessment is required for inheritance, privatization, sale or exchange of housing transactions. The inventory value of the property is its replacement price minus its depreciation and changes in the cost of services, work and construction materials. It is indicated in the technical passport for the object and a special certificate as of the day of the assessment. It includes all expenses for construction work, but does not take into account expenses aimed at the purchase of a land plot and other details. The inventory value is necessary exclusively for settlements in government bodies and differs significantly from market indicators.
Bureau of Technical Inventory
Real estate property valuation is the responsibility of BTI. Guidance for this bureau is the statutory procedure for assessing buildings. At the same time, the replacement cost of the building is calculated using the price level determined in 1991. In addition, coefficients and indices are needed, which were introduced by a 1983 resolution of the USSR Gosstroy.
The bureau must issue a certificate stating the inventory value of the object, if it is really necessary. It is worth paying attention that you do not need to draw it up in advance. This is due to the fact that its validity is limited. In addition, BTI annually on January 1 submit this document to the tax authorities.
How to get help?
From the above material, it becomes clear that a certificate in which the inventory value is displayed is obtained in the BTI. The document and the information contained therein may be provided to the owner of the property and the tenant. It is also available for representatives who have a notarized power of attorney . To determine the estimated cost of the apartment, you must contact the BTI, which is located at the applicant’s place of residence.
To contact these bodies and obtain a certificate, it is worth preparing the following documents:
- Application for the provision of the relevant document.
- Certificate of ownership or social contract of employment.
- A document that identifies the applicant.
Then an employee of BTI will determine the day of receipt of the necessary information. The inventory value of real estate is determined and confirmed by a document on a paid basis.
It is worth noting that today BTI does not issue certificates of this type if they are required during the inheritance of housing. To do this, contact Rosreestr. This body provides services of issuing a certificate showing the cadastral value of real estate. The notary who draws up the inheritance will accept it if it has not expired.
Is it possible to challenge the document?
If the inventory value of the object, which was determined by the BTI, according to the owner, does not correspond to reality, it is worthwhile to find out whether it can be challenged. There are only two reasons that allow you to review the basis for a review of the assessment:
- Submission of inaccurate information about the object.
- The inventory value exceeds the market price or is quite close to it.
This is due to the fact that the market valuation is several times higher than the inventory valuation. The exception is housing located in new buildings. This can also happen if BTI is engaged in determining market value, if it has the appropriate license. To review the inventory value, you must perform the following steps:
- An application is submitted to the arbitration court. It is necessary to file a lawsuit against the BTI, which conducted the housing assessment. In this statement, you must specify the requirement - a revision of the inventory value.
- The following documents are attached to the application:
- appropriate passport of the object,
- a notarized copy of the certificate of ownership,
- as well as a document confirming incorrect information.
If the actions are performed correctly, it is likely that the inventory value of the house or apartment will be revised.
How to calculate the inventory value?
It should be noted that the inventory value is calculated by the formula:
- Si = Sv ∙ (1 - Ifis / 100 ∙ Ki), where
St. - replacement cost.
Ifis is an indicator of physical wear and tear.
Ki is the coefficient of differentiation of housing.
This formula allows you to most accurately calculate the necessary indicators, so it is used by government bodies.