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What is the Assessed Annual Value (AAV)?

An assessed annual valuation is an assessment of the market value of a property, at a specific date and in accordance with legislation. The Valuer-General determines the AAV under the Valuation of Land Act 2001 .

It is the gross annual income that, at the time of valuation, the owner of the property might reasonably expect to obtain from letting it to a tenant. The assessed annual value of the land cannot be less than 4 per cent of the capital value of the land.

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