The Federal Law from 03.07.2016 №237-FZ "On state cadastral valuation" is adopted.

03.07.2016 Russian President Vladimir Putin signed the Federal Law "On state cadastral valuation".

     The law is aimed at improving the procedures for determining the cadastral value. The Act provides for the introduction of the institute of public assessors inventory and transfer of authority to determine the cadastral value to the state budget institutions, which will determine the cadastral value on a regular basis. They may be re-established institutions or existing institutions that are endowed with adequate powers.

     At the same time determining the cadastral value is assumed by a single method that will improve the quality and ensure the uniformity of the cadastral value determination at the state cadastral valuation.

     In addition, the state budget institutions will determine the cadastral value of real estate that previously and newly included in the state real estate cadaster and properties in respect of which there was a change of the quantitative and qualitative characteristics.

     The law comes into a force on 1 January 2017.