The Valuation of Land Act was amended by Act No. 17 of 2009, empowering the Commissioner of Valuations to assess properties using an Annual Rental Value (ARV) system and validating the use of this system for property valuations between 1970 and 2009. Prior to this amendment, valuations were conducted using a site valuation system.
Further amendments were introduced through Acts No. 5 of 2018 and No. 21 of 2022, which, among other provisions, established a Valuation Tribunal and required certain State agencies to provide relevant information to the Commissioner of Valuations to support the valuation process.
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All professional staff within the Valuation Division are members of the Institute and adhere to internationally recognised standards established by the Royal Institution of Chartered Surveyors, in addition to the professional guidelines set by the Institute of Surveyors of Trinidad and Tobago.
The Commissioner of Valuations is responsible for the overall management and supervision of the Valuation Division. The role includes developing strategic plans and formulating, implementing and monitoring policies relating to the valuation of lands and properties across Trinidad and Tobago.
Ministry of Land and Legal Affairs
The Ministry of Land and Legal Affairs has entered into a strategic Memorandum of Understanding (MOU) with the United Nations Development Programme (UNDP) to advance sustainable land management and strengthen institutional frameworks.