The Valuation Program is part of the Valuation and Payment In Lieu of Taxes Programs Directorate (VPILT), National Accommodation and Portfolio Management, Real Property Branch, of Public Works and Government Services Canada (PWGSC).

The role of the Valuation Program, under the direction of the Chief Appraiser of Canada is to protect the Federal Government and the people of Canada by ensuring that valuations used in government property transactions and by assessment authorities are properly made and based on defensible valuation methodologies. The Directorate provides professional valuation expertise to and on behalf of Government. This expertise is relied upon by the Federal Government and by it’s clients, and fulfils a critical role in the overall property transaction process overseen by the Treasury Board of Canada. Independence and integrity are the key principles underpinning the role of the Valuation Program at PWGSC.

The Valuation Program also develops innovative solutions to many valuation related issues for a variety of clients, one of which is;

• The Book Value Calculator (BVC) was initially created to assist the Federal Government (through it’s custodial departments) to move to accrual based accounting for it’s all real property assets, (infrastructure, buildings and land) in 2001.
• Since then other levels of Government in Canada and abroad have successfully used the BVC to calculate the opening book values for their real property asset holdings.
• The Valuation Directorate is currently revamping, customizing and updating the BVC, and converting it to a ‘web based’ application in order to provide assistance to Municipalities across Canada to meet their obligations under the PSAB 3150 initiative.