How does MVOW determine a default risk rating?

When you handcraft a future value or apply a factor from either the property search results or the component factor, MVOW makes an educated guess at what the risk rating should be. It does this by collecting a list of candidate risk ratings and then choosing the highest rated candidate. Here are the rules that it uses to figure this out.

• IF there is a risk rating on the year we're evaluating THEN

  • IF this risk rating is EITHER 1-ANLYSALE OR 1-SIGVALCH OR 1-OBJECT THEN
    • This risk rating is NOT a candidate
  • ELSE IF this risk rating is 1-BENCHMRK AND the property is not flagged as PRIMARY, REFERENCE or SECONDARY THEN
    • This risk rating is NOT a candidate
  • ELSE IF this risk rating is 2-ALLOWNCE AND there is no allowance THEN
    • This risk rating is NOT a candidate
  • ELSE
    • This risk rating is a candidate

• IF there is no candidate risk rating from the year we're evaluating THEN

  • Search back until we find a risk rating that is NOT ONE OF 1-ANLYSALE, 1-SIGVALCH, OR 1-OBJECT
  • IF we've found a year value with a risk rating not mentioned above
    • IF this risk rating is 1-BENCHMRK AND the property is not flagged as PRIMARY, REFERENCE or SECONDARY THEN
      • This risk rating is NOT a candidate
    • ELSE IF this risk rating is 2-ALLOWNCE AND there is no allowance THEN
      • This risk rating is NOT a candidate
    • ELSE
      • This risk rating is a candidate

• IF the property is a primary or reference benchmark THEN

  • 1 - BENCHMRK is a candidate

• IF there is a zone code THEN

  • IF the property's zone code is "E4", "E5" or "W5", or starts with "I" THEN
    • 2 - INDUSTRY is a candidate
  • ELSE IF the property's zone code is "E1", "E2", "E3", "MU1" or "SP5", or starts with "B" THEN
    • 2 - COMMERCE is a candidate
  • IF there is a default risk rating associated with the zone THEN
    • The zone's default risk rating is a candidate

• IF the authority code contains 35B THEN

  • 1 - OBJECT is a candidate

• IF there is is one or more analyses for the property THEN

  • 1 - ANLYSALE is a candidate

• IF the valuation basis contains 14G OR there is a S125 heritage value THEN

  • 2 - HERITAGE is a candidate

• IF the valuation basis is not 6A(1) THEN

  • 2 - LVBASIS is a candidate

• IF there is an allowance (as described below) THEN

  • 2 - ALLOWNCE is a candidate

• IF there are no candidate risk ratings THEN

  • The default risk rating is not set

• ELSE

  • The default risk rating is the highest ranked candidate risk

"[T]here is an allowance" above means that there is a value (in some cases, this may be zero) in one or more of the MDAF, MUAF, stratum, onsite, offsite, subdivider, unutilised, attributable part or coal fields on the property value record.