Page 2867 - Week 10 - Tuesday, 13 September 1994

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TREASURER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

QUESTION NO. 1368

Dual Occupancies - Banks

MR CORNWELL: To ask the Treasurer- In relation to the 58 dual occupancy developments approved or active in the suburb of Banks -

(1) What is the estimated rates revenue that will be obtained from these dual occupancy developments?

(2) What would have been the estimated rates revenue that would have been obtained from the blocks if only single dwellings had been built?

(3) Was betterment charged upon these dual occupancy developments; and if so, how much in total was raised?

MS FOLLETT: The answer to the Members question is as follows:

(1) The total general rates assessed in 1994/95 for the 58 dual occupancy sites

in Banks (31 of which have been converted to unit title) is $29,254.50.

(2) There is no variation in the unimproved values of these properties as a result of dual occupancy approval or conversion to unit title and therefore the general rates revenue is unchanged.

(3) No betterment tax is payable on these developments, however a fee of $1,000 applies to unit title conversions.

2867

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