Automated information system Price Register to be set up in Moldova

Chisinau, July 10 /MOLDPRES/- A state monitoring mechanism will be set up in the country on activity of real estate evaluation and an automated information system Price Register will be created. A draft law was approved today by the members of the parliamentary committee on agriculture and food industry.

Under the document, the establishment of mechanism will allow state bodies to obtain, on a quarterly basis detailed information on the activity of evaluators, the volume of works, the type of objects, the number of companies providing such services.

The document also provides for the creation of an automated information system Price Register, which will contain relevant information on real estate transactions. This information will be used to develop, calibrate and monitor over time the quality of real estate valuation models for taxation purposes.

Another provision of the draft is aimed at creating a mechanism for challenging and examining complaints related to the assessed value of real estate. The terminology related to the valuation process will also be adjusted to comply with European and international valuation standards.