A new artificial intelligence property valuation tool is expected to radically improve government’s ability to fund big infrastructure projects such as the very fast train and Victoria’s $125 billion suburban rail loop project.
The tool has been developed by PEXA majority-owned and University of New South Wales spin-off Valuation Australia, and is predicted to give far more accurate and timely valuations for $70 billion of property tax and levies and land tax assessments, which governments rely on to fund services.
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Tom Burton has held senior editorial and publishing roles with The Mandarin, The Sydney Morning Herald and as Canberra bureau chief for The Australian Financial Review. He has won three Walkley awards. Connect with Tom on Twitter. Email Tom at tom.burton@afr.com
