Valuer-General of New South Wales v In Adam Pty Limited

[2012] NSWCA 20

NSW Court of Appeal

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Interrogate

Catchwords

1. Land Law
2. › Valuation of land
3. › Heritage restricted land
4. › Land value under s 14G Valuation of Land Act 1916 (NSW)
5. › Statutory assumption that improvements are new
6. › Whether increased cost of constructing new heritage building reduces land value
7. › Heritage cost penalty
8. › Valuation of Land Act 1916 (NSW), ss 6A(1), 14G(1)(b1)
1. Statutory Interpretation
2. › Statutory fictions
3. › Consequences and corollaries of statutory assumptions
4. › Whether court must imagine inevitable corollaries of imaginary state of affairs unless prohibited

Quick Take

The statutory assumption in s 14G(1)(b1) of the Valuation of Land Act 1916 (NSW) that improvements on heritage restricted land are new carries with it the corollary that the increased cost of constructing a new heritage building (the 'heritage cost penalty') must be deducted from the land value. However, this principle has been legislatively reversed with general retrospective effect by the Valuation of Land Amendment Act 2011, and applies only to a small number of proceedings commenced before that amendment.