This article addresses the topic of urban valuation. In urban transformation processes"), it is necessary to assess the goods and rights provided, as well as the burdens or costs borne, so that the reparcelling project contemplates an equitable distribution among the participants.

To this end, the Spanish Land Law provides for the application of different calculation methods or systems depending on the classification of the land and the type of assets and rights affected.

• - Comparison method"). It is based on the comparison of similar or similar goods. If we can consider a good, whose value is to be estimated, similar or similar to a certain group of goods of known price or value, these magnitudes will be used for the calculation of that one.

• - Capitalization method"). If we know the returns or net income that a certain asset that we wish to value periodically produces, we can capitalize them, obtaining their net current value that would be equivalent to the value of the asset.

• - Cadastral value. To calculate the tax base for the real estate tax, the cadastral value of the property is estimated in accordance with the applicable Treasury provisions. In the case of land, the impact value assigned by the Cadastral Reports is used.

• - Residual value"). When the value of the land is unknown, this being the only unknown cost in the realization of the real estate product, it can be estimated as the difference between the price of the real estate product completed and ready for use and all the known costs involved in its production. The Land Law distinguishes between dynamic residual value and static residual value of the land, depending on whether or not the expected calendar of income and expenses is considered. The consideration of this calendar, in the dynamic method, implies the need to estimate future prices and costs, while with the static method, at not taking this calendar into account, current prices and costs are used.

• - AVM (Automated Valuation Model) value. It refers to the automatic valuation of properties following statistical criteria. These valuations serve to supervise securities in accordance with Basel II regulations.

Barris, J. (2008) An expert system for appraisal by the method of comparison. PhD Thesis, UPC, Barcelona.

Barris, J., & Garcia-Almirall, P. (2011) A density Function of the Appraisal Value. European Real Estate Society 2011 – Eindhoven, The Netherlands, Best Paper on Real Estate Valuation.