VALUATION APPEAL — land valuation appeal — whether the land value is too high — land below high water mark — where land is to be valued together — comparable sales — adjustments to sales — added value of improvements — valuation methodology — orders
Quick Take
1Where a strata parcel adjoins Crown land below the high water mark held under a maritime lease by the owners corporation, the owners corporation is the 'owner' of the maritime lease area for the purposes of the Valuation of Land Act 1916 (NSW), the Land Tax Management Act 1956 (NSW) and the Local Government Act 1993 (NSW), and s 26(1) of the Valuation Act requires the two adjoining parcels to be valued together unless the Valuer General otherwise directs.
2A concession by the Valuer General on appeal that the determined land value is too high does not discharge the appellant's onus of proof under s 40(2) of the Valuation Act; the Court must independently evaluate the valuation evidence and may reach a figure outside the contentions of both parties, including one that confirms the original determination.
3In selecting comparable sales for the purposes of s 6A of the Valuation Act, improved sales in the same locality requiring deduction for added value of improvements are to be preferred over vacant land sales in distant or dissimilar localities that require large subjective adjustments, consistent with the High Court's guidance in Maurici v Chief Commissioner of State Revenue [2003] HCA 8.
