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Legislative Assembly for the ACT: 1997 Week 6 Hansard (19 June) . . Page.. 1905 ..

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apply to the residential and non residential sectors respectively for the 1997-98 rating year.

The Exposure Draft also identified a rolling three year average of 1994, 1995, and 1996 unimproved property values for the 1997-98 rating year. At the Assembly's direction, that has been changed to an average of 1995, 1996, and 1997 values.

Mr Speaker, the rating system has been remodelled following inclusion of 1997 values and the reduction of the 1997-98 CPI estimate since the preparation of the Exposure Draft.

The result is that for 1997-98 the threshold will still be $19,000, the fixed charge will be $220 per property, and the rating factor has been adjusted to 1.0734% for residential properties and 1.1110% for non residential properties.

The residential and non residential revenue targets will remain at 85:15 respectively, which, Mr Speaker, reflects very closely the actual ratio of property values for these sectors following the inclusion of 1997 values. On that

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