Heritage Regulations 2019

This regulation applies when, under section 82(1)(b)(i) of the Act, the Valuer‑General assumes that all improvements to or on land at the date of valuation that contribute to its cultural heritage significance must be conserved and are not to be demolished.

The Valuer‑General may assume —

that the improvements that must be conserved are to be conserved so that the current use of the land may be continued; and

that the improvements that must be conserved are new, so that no allowance need be made in the valuation for their actual condition; and

that the cost of construction of the improvements that must be conserved has no effect on land value, so that no allowance need be made in the valuation in respect of any difference between —

the cost of construction of those improvements as new improvements; and

the cost of construction of other improvements used as a basis for comparison in the determination of land value.