Valuation Guidelines of the Claims Committee

The Claims Committee assigns a value to accepted claims by applying in principle the value that the confiscated property had in 1938, converted into USD at the rate ruling in May 2003 (i.e. the end of the period for filing claims: 1RM 1938 = 4,913511 USD; Source: Statistik Austria).

For the purposes of this valuation in the claims-based process, all available documents which might indicate the historical value are consulted (e.g. property declarations, files of the "Finanzlandesdirektion', balance sheets, expert opinions, contracts of sale, proceeds from auctions, files of the Compensation Fund, etc.). In case no such documents are available, a lump sum is awarded, computed from the average of comparable historical values.
Since in the equity-based process there is no available evidence to prove the value or even the actual existence of the property, a lower lump sum is awarded than in the claims-based process for those losses accepted as plausible.
Since the original valuation was in Reichsmark, the conversion into USD necessarily leads to conversion values to one or more decimal points, even for lump-sum values (see below).

Occupational and educational losses in the equity-based process are valued by the Claims Committee by means of lump sums at three different levels, based on the lump sums used for liquidated businesses. In deciding on the appropriate level the Claims Committee bases itself on the duration and intensity of an occupational or educational loss assessed in the light of all the individual circumstances of the person concerned.

For the valuation of insurance policies the Claims Committee applies mutatis mutandis, as required by §18 (2) of the Law on the General Settlement Fund, the rules of the International Commission on Holocaust Era Insurance Claims (ICHEIC).

Lump sums in the claims-based and in the equity-based procedures

claims-based procedure		equity-based procedure
Very small business	2.500 RM	Very small business	1.250 RM
	12.283,78 USD		6.141,89 USD
Small business	5.000 RM	Small business	2.500 RM
	24.567,56 USD		12.283,78 USD
Liberal profession	7.000 RM	Liberal profession	3.500 RM
	34.394,58 USD		17.197,29 USD
Bank account	500 RM	Bank account	250 RM
	2.456,76 USD		1.228,38 USD
Small stock deposit	500 RM	Small stock deposit	250 RM
	2.456,76 USD		1.228,38 USD
Large stock deposit	2.500 RM
	12.283,78 USD
		Household goods and other movable property	4.495,21 USD
Other movable property	1.798,09 USD	Other movable property	899,04 USD

Lump sums in the equity- based procedure for occupational and educational losses

Occupation and Education Level 1	2.500 RM
	12.283,78 USD
Occupation and Education Level 2	5.000 RM
	24.567,56 USD
Occupation and Education Level 3	10.000 RM
	49.135,11 USD