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Valuations
Valuation certificates for lease variation, consolidation or subdivision
For the purposes of this information, "lease" means Crown lease.
Valuation assessments are required as part of development applications involving any variation to a lease, including a consolidation or subdivision.
Valuation assessments
A valuation assessment is prepared by an accredited valuer that sets out the amount of the values represented by V1 (after value) and V2 (before value) for any variation to a lease. Your valuer's assessment will assist you in determining any change of use charge that may need to be paid if you change a lease.
Valuation assessments for change of use charge
We may refuse to accept the valuation assessment if insufficient detail, evidence or other required valuation material has not been provided as per the requirements oft the Planning and Development Act 2007.
As part of the assessment process, your valuation assessment is referred to the Australian Valuation Office for advice on the information contained in the valuation assessment.
We may request further valuation evidence, rationale, costingsor other information if it is considered necessary to properly determine a change of use charge.
Upon advice from the Australian Valuation Office, a formal determination of the change of use charge payable is made.
