Norwest City Pty Ltd ATF Norwest City v Valuer General

Norwest City Pty Ltd, acting through a trustee, initiated proceedings against the Valuer General in the Supreme Court of New South Wales. The dispute pertains to the valuation of Lot 5072, located in Deposited Plan 878258, as of 1 July 2015. The plaintiff contested the valuation of this property, arguing that it was substantially undervalued by the Valuer General.

The primary legal issue before the court was whether the assessed value of the property was in accordance with the statutory requirements under the Valuation of Land Act 1916. Specifically, the court had to determine if the Valuer General's valuation process complied with the legislative framework and if the valuation was reasonable and justifiable based on the evidence provided. The court also needed to consider whether the plaintiff's proposed valuation of $31,100,000 was more accurate than the Valuer General's assessment.

The Supreme Court of New South Wales found in favour of the plaintiff, ruling that the Valuer General's valuation did not meet the standards required by the Valuation of Land Act 1916. The court held that the evidence provided by the plaintiff was sufficient to support the higher valuation of $31,100,000, and that the Valuer General's assessment was not adequately justified. Consequently, the court determined that the value of the property should be adjusted to reflect the plaintiff's proposal. The appeal was thus upheld, and the court set the value of Lot 5072 as at 1 July 2015 at $31,100,000. The exhibits were ordered to be returned, and the costs were reserved pending further instructions.