Victorian Consolidated Legislation

Valuation of Land Act 1960 - SECT 5B

Valuation of transmission easements

5B. Valuation of transmission easements





(1) For the purposes of Division 4 of Part 2 of the Land Tax Act 2005, the
value of a transmission easement is the amount by which it decreases the site
value of the land encumbered by it, that is, the amount of the difference
between-

   (a)  the sum which would have been the site value of the land encumbered by
        the transmission easement if that land were not so encumbered; and

   (b)  the site value of that land as so encumbered.

(2) At the request of the Commissioner, and to enable the Commissioner to
assess land tax imposed under Division 4 of Part 2 of the Land Tax Act 2005,
the valuer-general must cause-

   (a)  a valuation of each transmission easement to be made as at 1 January
        in every even calendar year (subject to subsection (2A)); and

   (b)  the valuation to be given to the Commissioner before 31 December in
        that year.

(2A) If-

   (a)  a transmission easement exists over land in a municipal district; and

   (b)  under section 13DC(4) the Minister has determined a date other than
        that specified in section 13DC(3) as the date as at which a general
        valuation of all rateable land within that municipal district must be
        made-

the valuation of the transmission easement under subsection (2) over land in
that municipal district must be made as at the date determined by the Minister
under section 13DC(4).

(3) This section does not apply to a transmission easement-

   (a)  held by a transmission easement holder exempted by Order in Council
        under section 87(1)(a) of the Land Tax Act 2005; or



   (b)  exempted by Order in Council under section 87(1)(b) of the
        Land Tax Act 2005.