Page 3075 - Week 11 - Tuesday, 11 September 1990
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CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
Land Valuations
Question Number 180
MR MOORE - asked the Chief Minister upon notice on 6 June 1990:
(1) What are the total official valuations of rateable ACT land at 1 January 1985 and at 1 January 1988.
(2) What are the dissections of these values under the following classifications (a) owner-occupied residential;
(b) rental residential; (c) commercial, including retail; (d) industrial; (e) rural and (f) any other categories utilised.
(3) What professional bases are used for valuation of each class.
(4) Are any non-professional instructions given to valuers re any classes or sites and, if so, what are or were they and for what occasions.
(5) In what respects, if any, did these bases and instructions vary between the valuations as at 1 January 1985 and 1 January 1988.
(6) What are the total official valuations or, if not valued, the estimated values for current usage or non-rateable land owned by the Commonwealth at 1 January 1985 and at 1 January 1988.
MR KAINE - the answer to the Members question is as follows:
(1) Under the terms of the Rates and Land Tax Act, unimproved values in
the ACT-are redetermined every three years. Although these values
are set on a common date. for administrative and rating purposes
they do not become effective until 18 months after the general
revaluation has taken place i.e.., values that were redetermined as
at 1 January 1985 became effective for rating purposes on
1 July 1986 while values that were redetermined as at 1 January 1988
became effective for rating purposes on 1 July 1989.
A comparison between values at 1 January 1985 and 1-January 1988 is
set out below:
1-1-85 UV --
$ 3,662.058,360
(all properties recorded at June 1986) The difference between these two valuation bases reflects additional properties leased throughout the 1985 triennium (July 1986 to June 1989).
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