APPRAISAL OF PROPERTY OF LOCAL SELFGOVERNMENT BODIES: A ROLE IN THE EFFECTIVENESS OF PROPERTY PRIVATIZATION AS A SOURCE OF INCREASING REVENUES OF LOCAL BUDGETS

The correct appraisal of state property, which depends on the professionalism of property evaluation institutions, ensures the fiscal efficiency of privatization. The lack of research on the fiscal effects of property appraisal requires the study of the effectiveness of the appraisal procedure. The article deals with the issue of appraisal activity of municipal property in the context of property privatization and fiscal efficiency. The main purpose of the study was to determine the role of appraisal of property of local self-governments in the effectiveness of property privatization. The statistical analysis of property appraisal and privatization indicators revealed the peculiarities of property appraisal and its fiscal efficiency. Mechanisms for ensuring proper appraisal of municipal property in developed and developing countries are identified. The main conceptual differences of property appraisal mechanisms are revealed: market approach in developed countries through the mechanism of public offering of shares; formation of competition through a transparent mechanism of electronic auctions in developing countries. The concept of municipal asset management provides the preconditions for independent appraisal institutions and simplifies appraisal procedures, and finally - privatization procedure. The article established that a correct appraisal of municipal property provides short-term fiscal effects. The study provides an opportunity to implement an appraisal mechanism based on a market approach in developing countries. The influence of the municipal asset appraisal on budget volumes through current financing and long-term receipt of tax payments is proved