Page 751 - Week 03 - Thursday, 2 April 2020
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basis of the average land value over the last three years. This smooths out the lumps and bumps through changes in the real estate market and the treasury’s valuation process. Three years averaging of land value means that most people’s rates change predictably, instead of bouncing around. Moving to a five-year averaging instead of a three-year averaging will make this effect even stronger.
An important thing from the ACT government point of view is that, because of the way our rates system works, this will not result in more or less rates being collected overall. The only effect will be to give ratepayers more predictability. It is a sensible, small change which will benefit the community in general, and the Greens will support it.
MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Social Inclusion and Equality, Minister for Tourism and Special Events and Minister for Trade, Industry and Investment) (10.45), in reply: I thank the opposition and the Greens for their support. As members would be aware, the Rates Act provides for a level of smoothing for individual ratepayers by averaging unimproved value over three years. This bill builds on that approach by extending the average period, first, to four years in 2020-21 and to five years in 2021-22. It is an evolutionary change. It provides a level of adjustment needed to deal with matters that were raised before the Standing Committee on Public Accounts inquiry into commercial rates. The government has listened to parties describe the impact of having to fund a sudden change in their rates due to a significant increase in unimproved property values.
This bill also recognises that changes in unimproved values are not just limited to commercial land. The changes are effective over all land types, for rating purposes, which is consistent with the current approach to the three-year AUV. Over time it is expected that the benefits of these changes will be distributed across a broad range of individuals and businesses, with effects felt across suburbs and housing types as market changes occur. I thank members for their support and commend the bill to the Assembly.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
Gaming Machine Amendment Bill 2020
Debate resumed from 20 February 2020, on motion by Mr Ramsay:
That this bill be agreed to in principle.
MR PARTON (Brindabella) (10.46): I will speak briefly on this bill. I was a little surprised that it was still brought forward this week, given that it is a bill concerning gaming machines that are currently sitting idle in clubs that are closed. The cold, hard
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