Heritage Act 2018

When valuing land to which this Division applies under the Valuation of Land Act 1978, the Valuer‑General —

must take into account any restrictions on the use of the land arising out of the entry of the land in the register or the heritage agreement to which the land is subject, as the case requires; and

must assume —

that all improvements to or on the land at the date of valuation that contribute to its cultural heritage significance must be conserved and are not to be demolished; and

that no improvements may be made to or on the land after the date of valuation.

Nothing in subsection (1) prevents the Valuer‑General from taking into account, in subsequent valuations of the same land, the effect of any improvements or demolitions that have been carried out.