Values in mathematics classroom is not commonly discussed, researched, implemented, and measured although value is a significant affective aspect of mathematics learning. In this article, it is proposed that an instrument is developed to measure the said values which will benefit the teaching and learning mathematics. Discussion will focus on the reliability and validity of the subconstructs and the instrument. The instrument consisted of 36 items with three sub-constructs, namely the general education values, mathematics education values, and mathematics values. Each of the sub-construct is represented by several dimensions. Data was collected from 325 lecturers of 17 matriculation colleges in the country. Descriptive statistics, reliability statistics for the construct, sub-constructs, and dimensionsand item analysis comprising of inter-item correlation, item-total correlation, and Cronbach's alpha value when item was deleted were demonstrated. The proposed framework theoretical structure was checked for uni-dimensionality using Principal Analysis Residuals and several fit indices using Confirmatory Factor analysis. The Cronbach Alpha values for the construct, three sub-constructs, and nine dimensions were found to be reasonably high. Results from the higher order Confirmatory Factor Analysis indicated that the structure of the general education values and mathematics values did not portray an acceptable goodness of fit. Only the values in mathematics education were found to have acceptable goodness fit values. Item analysis indicated thatitems have good correlation with other items and acceptable item-total correlation amongst items within the sub-construct, construct, and the nine dimensions. Principal Analysis of Residuals results indicated that there is a possibility of the mathematics education and mathematics values to be uni-dimensional. The instrument may provide more knowledge on values development in mathematics classrooms. However, in depth research focusing on the dimensions and value indicators was advisable besides executing the study on a larger sample in order to gain more information on the reliability and validity of the instrument.