Assessment of land is a challenge. In accordance with the Law of Ukraine "On the valuation of property, property rights and vocational assessment activities in Ukraine, the Law of Ukraine" On the evaluation of land and cash method for expert evaluation of land, the assessment of land will involve the following approaches: return (capitalization of net income from the use of land land), comparative (comparing the cost of sales of such land), approach the balance of the land (taking into account the cost of land improvement). Each of these approaches has its own characteristics and peculiarities of their use.
In assessing the comparative land (market) method is the most attractive, since most focused on market conditions. The difficulty of its use, however, is the lack of land market development, as well as insufficiently developed (existing) amendments affecting the cost, when comparing the existing sales and the absence of quantitative values of the correction factors.
The income approach is used when the plot makes a profit from business activities or from the date of its lease separately from the buildings and structures, ie the cost of land reflects its ability to be profitable in the future.
The approach of the balance of land uses in the evaluation of improved land. Determining the cost of land, in this case, carried out on the basis of the market value of these improvements, provided the most efficient use of land.

Evaluation procedure

In general, the procedure of expert evaluation of monetary includes the following steps:
collection outgoing information, which impacts on its future value;
analysis of the most efficient use of land;
choice of assessment methods;
valuation of the object of evaluation;
harmonization of evaluation findings and drawing conclusions about the value of the land;
of a report on the assessment of land.
Mandatory in determining the value of the land is the date of assessment, which compiled a report about the estimated value of the land, because the appraiser does not assume responsibility for subsequent changes in social, economic and legal conditions that may substantially affect the value of the estimated area.

Documents

The documents received by the customer, after evaluation, are: a report of an independent evaluation of the land with the name of the object, objective assessment and the date on which an assessment, describing the plot, plan, and the characteristics of the land, analysis of the most efficient use of land, the rationale chosen methods, the calculation of the value of the site, finding an expert on the value of the land. Report on the evaluation of land is made according to the method of expert evaluation of monetary land (approved by the Cabinet of Ukraine from 11.10.2002 № 1531). To report attached plan of the land and situational plan, photos of the object and the evaluation of such objects, copies of documents certifying the rights to land, and other analytical information to support value. Besides, putting a copy of the license for the right to conduct assessment and qualification certificate of the appraiser.

Appraisers

Assessment of land can hold legal persons who are licensed to conduct business for the land assessment, issued by the Ukrainian State Committee on Land Resources or the State Property Fund of Ukraine, in Labor Relations which including at least two experts.