Karlsruhe, 25 August 2010. Property valuation has an important role in the real estate industry. It ultimately provides security for financing and is also of major importance in ensuring transparency and security for the economy, law and administration. The recent ruling by the German Federal Finance Court on land tax, which ruled that current taxation using long-outdated values from the last century may even be unconstitutional, could create further requirements for appraisal committees in terms of property values. Financial policy needs to overhaul practices for determining land tax. "The property sector is currently causing quite a stir, and INTERGEO in Cologne will be no exception. This is an area that will be given due consideration at the congress entitled ‘Property valuation in 2020’," says Olaf Freier, Managing Director of HINTE and project manager for INTERGEO, which will make the Kölnmesse Exhibition Centre a focal point for the international geodesy, geoinformation and land management sectors.
Annual property sales in Germany total more than EUR 140 billion, making the property market a key factor in the German economy and reflecting a high level of mobility in the sector. The market has shown itself to be highly robust even in the financial crisis and showed solid growth in the first half of 2010. Financial administration and official property valuation professionals will have the opportunity to share their thoughts and ideas during the INTERGEO Congress and set out their views on a topic that continues to generate political controversy. Land tax is an important source of revenue for local authorities, making up around 18 per cent and accruing to them directly. The neutral data from the official land value appraisal committees could make a key contribution to restructuring land tax.
"It’s not just this particular area where property valuation is key. The INTERGEO Academy’s integrated seminar ‘New standards in national and international property valuation’ will also help explore wider aspects," says Freier. From Monday 4 to Tuesday 5 October, the INTERGEO Academy will offer a forum for extensive discussion of standardization issues, including a look towards the future, in both a national and international context and with insights from high-profile experts. Property has long been a strategic element for international companies – for example, Europe’s largest insurer recently acquired some 80 properties from Aldi Süd – and is therefore a driving force on key international markets.
Trade fair tickets available online for immediate printout
Registrations for the congress (German language) (http://www.intergeo.de/de/deutsch/kongress/anmeldung.php?navid=39) can be made online, as can purchases of tickets for the trade fair (http://www.intergeo.de/en/englisch/besucher-service/e_ticketing.php?navid=61) at INTERGEO, the leading international congress trade fair for geodesy, geoinformation and land management. INTERGEO online ticketing for the trade fair (excluding entry to the congress) offers a discount of up to 20 per cent on regular admission prices. Tickets can be downloaded and printed as soon as the purchase process is completed.
DVW e.V. – the German Society for Geodesy, Geoinformation and Land Management – is the organiser of INTERGEO, which will be held in Cologne from 5 to 7 October 2010.