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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Valuation of Land Amendment Bill 2011
Contents
Page
1 Name of Act 2
2 Commencement 2
Schedule 1 Amendment of Valuation of Land Act 1916 No 2 3
Schedule 2 Amendment of Heritage Act 1977 No 136 6
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE COUNCIL,
has finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of
NEW SOUTH WALES.
Clerk of the Parliaments
egislative Council
2011
New South Wales
Valuation of Land Amendment Bill 2011
Act No , 2011
An Act to amend the Valuation of Land Act 1916 to provide for the making of private
valuations of land by the Valuer-General and to make further provision for the
valuation of heritage restricted land; and to amend the Heritage Act 1977 to make
further provision for the valuation of land on the State Heritage Register.
Clause 1 Valuation of Land Amendment Bill 2011
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the Valuation of Land Amendment Act 2011.
2 Commencement
This Act commences on the date of assent to this Act.
Page 2
Valuation of Land Amendment Bill 2011
Amendment of Valuation of Land Act 1916 No 2 Schedule 1
Schedule 1 Amendment of Valuation of Land Act
1916 No 2
[1] Section 4 Definitions
Omit "for the purposes of Part 2" from the definition of valuation service in
section 4 (1).
[2] Section 9 Functions of Valuer-General
Insert "authorised or" before "required" in section 9 (1) (d).
[3] Section 9A
Insert after section 9:
9A Private valuations by Valuer-General
(1) The Valuer-General may make a valuation of land at the request
of any person (a private valuation) for the purposes of any
agreement or other arrangement between parties (a private
agreement) that provides for the valuation to be made by the
Valuer-General.
(2) The terms of the private agreement do not prevent the
Valuer-General from delegating the making of the private
valuation or from making the private valuation on the
recommendation of a contract valuer.
Note. Section 8 (5) enables the Valuer-General to delegate the making
of a private valuation to any person. Section 13H provides for the
Valuer-General to make a private valuation on the recommendation of a
contract valuer.
(3) A private valuation made by a delegate of the Valuer-General or
by the Valuer-General on the recommendation of a contract
valuer is, for the purposes of a private agreement, deemed to have
been made by the Valuer-General (even if the private agreement
provides for the valuation to be made by the Valuer-General as
an expert valuer or on the basis of the Valuer-General's own
investigations, skill and judgment).
(4) The making of a private valuation under this section is at the
discretion of the Valuer-General and the Valuer-General cannot
be required to make a private valuation under this section.
Page 3
Valuation of Land Amendment Bill 2011
Schedule 1 Amendment of Valuation of Land Act 1916 No 2
[4] Section 14G Valuation subject to heritage restrictions under EPI
Insert after section 14G (1) (c):
(d) that the cost of construction of improvements on that land
has no effect on its land value, with the result that there is
to be no reduction in land value because of any difference
between the cost of construction of the improvements
referred to in paragraph (b) as new improvements and the
cost of construction of other improvements used as a basis
for comparison in the determination of land value.
[5] Section 14G (1A)
Insert after section 14G (1):
(1A) When the land value of heritage restricted land is determined on
the basis of the assumptions required by this section, there is to
be no deduction from or other adjustment of that land value on
account of the effect on land value of any factor concerned with
the land being heritage restricted land (other than the effect of
those assumptions).
[6] Schedule 2 Savings, transitional and other provisions
Insert at the end of clause 1 (1):
Valuation of Land Amendment Act 2011
[7] Schedule 2
Insert at the end of the Schedule:
Part 7 Provisions consequent on enactment of
Valuation of Land Amendment Act 2011
19 Operation of private valuation amendments
Section 9A extends to a private valuation made before the
commencement of that section but not so as to affect any decision
of a court made before that commencement.
Page 4
Valuation of Land Amendment Bill 2011
Amendment of Valuation of Land Act 1916 No 2 Schedule 1
20 Operation of amendments and validation of valuations
(1) The amendments made to section 14G of this Act, and to
sections 123 and 125 of the Heritage Act 1977, by the Valuation
of Land Amendment Act 2011 are taken to have applied, and
always to have applied, to any land valuation made before the
commencement of this clause.
(2) Subclause (1) does not affect any decision made by a court
(before or after the commencement of this clause) in proceedings
commenced before the date of introduction into Parliament of the
Bill for the Valuation of Land Amendment Act 2011.
Page 5
Valuation of Land Amendment Bill 2011
Schedule 2 Amendment of Heritage Act 1977 No 136
Schedule 2 Amendment of Heritage Act 1977 No 136
[1] Section 123 Definitions
Insert at the end of the definition of heritage valuation:
(d) that the cost of construction of improvements on that land
has no effect on its land value, with the result that there is
to be no reduction in land value because of any difference
between the cost of construction of the improvements
referred to in paragraph (b) as new improvements and the
cost of construction of other improvements used as a basis
for comparison in the determination of land value.
[2] Section 125 Making of heritage valuations with other valuations
Insert at the end of the section:
(2) When a heritage valuation is made of land, there is to be no
allowance made or other adjustment of that valuation on account
of the effect on value of any factor concerned with the land being
listed on the State Heritage Register, other than an allowance or
adjustment resulting from the assumptions required by this
Division for a heritage valuation.
Page 6
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