Page 3076 - Week 11 - Tuesday, 11 September 1990

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1-1-85 UV

$ 4,035,235,075 --

(a11 properties recorded a,- June 1989) I

The difference between I these two valuation bases I reflects the enhancement I in value of properties I from 1985 to 1988.

1-1-88 W I

$ 4,902.709,700 --

(all properties recorded at June 1989)

(2) It is not possible to differentiate between owner-occupied and rental dwellings or to dissect commercial use into retail or other categories. Properties are only dissected into the following categories:

Residential . Commercial . Industrial . Other (institutional, sporting. agricultural, etc.)

The breakdown of values shown in answer number one is therefore

limited to these categories. See attachment 1 for details.

In addition, it should be noted that two rating factors are struck

each year; a normal rate and a rural rate. The normal rate

applies to properties within the gazetted city boundaries whilst the

rural rate applies to all properties outside the city boundaries arid

properties used for primary production within the city boundaries..

The rural rate is currently 50$ of the normal rate. All of the

above categories therefore include properties which attract the.

rural rate.

Unimproved values of land in the ACT. are determined under the provisions of Section 5 of the ACT Rates and Land Tax Act 1926. The valuations are undertaken by Valuers in the ACT Branch of the Australian Valuation Office all of whom are professionally qualified and members of the Australian Institute of Valuers and Land Administrators.

The best evidence for the unimproved value of all categories of land is generally derived from the sale of comparable vacant land near the relevant date i.e. 1 January 1985 and 1 January 1988.

However, when sales of vacant land are not available, improved sales near the relevant date are analysed to deduce their land component i

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