Victorian Numbered Regulations

VALUATION OF LAND (GENERAL AND SUPPLEMENTARY VALUATION) (AMENDMENT) REGULATIONS 2007 (SR NO 78 OF 2007) - REG 3

r. 3

After regulation 8 of the Valuation of Land (General and Supplementary Valuation) Regulations 2003 ^[1] insert —

    "     9     Prescribed amount for exchange of information on certain objections

For the purposes of Part III of the Act, the prescribed amount is—

        (a)     a net annual value of $60 000; or

        (b)     a site value of $750 000; or

        (c)     a capital improved value of $1 000 000.

        10     Prescribed information to be given by rating authority on valuation

For the purposes of section 20(2) of the Act, the prescribed information is—

        (a)     the address of the property;

        (b)     the rating authority's property reference number;

        (c)     a response to the information contained in the written objection, if appropriate; and

        (d)     a description of the rating authority's valuation approach including, if appropriate, the sales or rentals generally relied on.".

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