This document:
a)       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)
b)       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).
c)        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
d)       specifies a content model independent of encoding that can be employed as a basis for local, national and regional profiles for valuation processes and
e)       enables the combining of valuation information from different sources in a coherent manner.
NOTE            This document does not interfere with national property valuation-related regulations with potential legal implications.