Valuation of Land (Rating and Valuation) Amendment Act 1981 (NSW)

VALUATION OF LAND (RATING AND VALUATION)

AMENDMENT ACT, 1981, No. 118

JJeto &outf) Males;

ELIZABETHS H REGXNS

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Act No. 118, 1981.

An Act to amend the Valuation of Land Act, 1916, to dispense with the making of valuations of the unimproved value of land, to make further provision with respect io the determination and use of land values and to apply the provisions of that Act to certain rating or taxing authorities. [Assented to, 18th December, 1981.]

See also Miscellaneous Acts (Rating and Valuation) Amendment Act, 1981.

1. Act No. 118, 1981.

   Valuation of Land (Rating and Valuation) Amendment.

BE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows:—

Short title.

1. This Act may be cited as the "Valuation of Land (Rating and

Valuation) Amendment Act, 1981".

Commencement.

2.      (1) Except as provided by subsection (2), this Act shall commence on

the date of assent to this Act.

(2) Sections 3 and 4 and Schedule 1 shall be deemed to have

commenced on 1st July, 1981.

Amendment of Act No. 2, 1916.

3. The Valuation of Land Act, 1916, is amended in the manner set forth

in Schedule 1.

Savings provision.

(1) The provisions of the Valuation of Land Act, 1916, as in force immediately before 1st July, 1981, shall continue to apply to and in respect of any valuation which is, for any reason, necessary or, in the opinion of the Valuer-General, desirable to be made in relation to any land, a stratum or a mine as at any date occurring before 1st July, 1981.

4.

(2) Nothing in subsection (1) affects section 8 of the Interpretation

Act, 1897.

Act No. 118, 1981. 3

Valuation of Land (Rating and Valuation) Amendment.

SCHEDULE 1.

(Sec. 3.)

AMENDMENTS TO THE VALUATION OF LAND ACT, 1916.

(1) (a) Section 4 {1), definition of "Covert improvements"—

Omit the definition.

(b) Section 4 ( 1 ) , definition of "Site improvements"—

Omit the definition.

(c) Section 4 ( 1 A ) —

Omit the subsection.

(2) Section 6—

Omit the section,

(3) Section 6 A —

Omit the section, insert instead:—

Land value.

6A. (1) The land value of land is the capital sum which the fee- simple of the land might be expected to realise if offered for sale on such reasonable terms and conditions as a bona-fide seller would require, assuming that the improvements, if any, thereon or apper- taining thereto, other than land improvements, and made or acquired by the owner or his predecessor in title had not been made.

(2) Notwithstanding anything in subsection (1), in deter-

mining the land value of any land it shall be assumed that—

(a) the land may be used, or may continue to be used, for any purpose for which it was being used, or for which it could be used, at the date to which the valuation relates; and

4   Act No. 118, 1981.

Valuation of Land (Rating and Valuation) Amendment.

SCHEDULE 1—continued.

AMENDMENTS TO THE VALUATION OF LAND ACT, 1916—continued.

(b) such improvements may be continued or made on the land as may be required in order to enable the land to continue to be so used,

but nothing in this subsection prevents regard being had, in deter- mining that value, to any other purpose for which the land may be used on the assumption that the improvements, if any, other than land improvements, referred to in subsection (1) had not been made.

(4) Sections 7 (1) (b) , 7B (1) and (2) , 7c (1) (*>), 14, 14A (1), (2)
and (4), 16 (1) (d), 19B (1) (a) , (2) (a) and (3), 40 (2) (b), 47,

58 (2), ( 2 A ) , (4), (6), (7), (8) and (10), 58A (2), ( 2 A ) , (4) and

(5), 58B (3), 58D (1) , (3), (13) and (U) and 58E (2 )—

Omit "unimproved" wherever occurring, insert instead "land".

(5) Section 14A (4 )—

Omit "6", insert instead "6A".

(6) (a) Section 16 (1) (e)—

Omit the paragraph.

(b) Section 16 (1) (f)—

After "land", insert "where that value is determined pursuant to a request referred to in section 7D (1) (b)".

(c) Section 16 (2) (d) (hi) —

Omit "improved, unimproved and assessed annual values", insert instead "land value and any other valuations".

(7) Section 19B (1) , (2 )—

Omit "1st January, 1973," wherever occurring, insert instead "1st
July, 1977,".

Act No. 118, 1981. 5

Valuation of Land (Rating and Valuation) Amendment.

SCHEDULE 1—continued.

AMENDMENTS TO THE VALUATION OF LAND ACT, 1916—continued.

(8) Section 47—

After "The Broken Hill Water Board.", insert:—

Commissioner of Land Tax.

Hunter Valley Conservation Trust.

(9) (a) Section 58 (1), ( I A ) —

Omit the subsections.

(b) Section 58 (2)—

Omit "for the purposes of this section".

(c) Section 58 (2) (a )—

Omit "covert", insert instead "land".

(d) Section 58 ( 2 A ) , (6), (7 )—

Omit "1st January, 1973," wherever occurring, insert instead "1st

July, 1977,".

(e) Section 58 (5)—

Omit "unimproved capital", insert instead "land".

(10) (a) Section 58A (1), ( I A ) —

Omit the subsections.

(b) Section 58A ( 2 A ) —

Omit "1st January, 1973,", insert instead "1st July, 1977,".

(11) (a) Section 67 (2) (a)—

Omit "unimproved" where firstly occurring, insert instead "land".

6   Act No. 118, 1981.

Valuation of Land (Rating and Valuation) Amendment.

SCHEDULE 1—continued.

AMENDMENTS TO THE VALUATION OF LAND ACT, 1916—continued.

(b) Section 67 (2) (a) —

Omit "unimproved capital", insert instead "land".

(12) Headings—

Omit all headings, other than the headings to the Parts and to

Schedule 1.