Division 3Division 3 Unutilised value allowances
62I Purpose and interpretation of Division
(1) This Division applies for the purposes of section 9A (Concession for unutilised land value).(2) Expressions used in this Division have the same meanings as in Division 2 of Part 8 of Chapter 15 of the Local Government Act 1993, except to the extent that such a meaning would be inconsistent with the meaning given by this Act.
62J Land that is eligible to have unutilised value ascertained
(1) Land is eligible to have an unutilised value allowance ascertained for its land value as at 1 July in a year if it satisfies the description in either of the following paragraphs as at midnight on 30 June in that year:(a) a parcel of land used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated for use for the purposes of industry, commerce or the erection of residential flat buildings,(b) a parcel of land (which may comprise one or more lots or portions in a current plan within the meaning of the Conveyancing Act 1919) used or occupied solely as the site of a single dwelling-house and which is, under an environmental planning instrument, zoned or otherwise designated, so as to permit its subdivision for residential purposes,(c) a parcel of rural land (which may comprise one or more lots or portions in a current plan within the meaning of the Conveyancing Act 1919) which is zoned or otherwise designated under an environmental planning instrument so as to permit its use otherwise than as rural land, or its subdivision into two or more lots or portions, one or more of which has an area of less than 40 hectares.(2) (Repealed)
62K Unutilised value allowance to be ascertained on application of owner
(1) The owner of land may apply to the Chief Commissioner for an unutilised value allowance to be ascertained for the land value of the land. The application must be in the form required by the Chief Commissioner and be accompanied by such supporting information as the Chief Commissioner may request.(1A) If satisfied that the land to which such an application relates satisfies the description in any of the paragraphs of section 62J (1), the Chief Commissioner must refer the application to the Valuer-General for determination of an unutilised value allowance.(2) The Valuer-General must then ascertain the allowance if the land is eligible to have that allowance ascertained.(3) An allowance ascertained by the Valuer-General under this Division is to be entered by the Valuer-General in the Register in respect of the land value to which it relates and is to be shown in any assessment to which it is applicable.
62L How unutilised value allowance is ascertained
(1) The unutilised value allowance for a land value is the amount calculated by deducting from the land value of the land the value that the land would have if it could be used only as the site of a single dwelling-house.(2) However, no account is to be taken of any portion of the land which is in excess of that which is reasonably necessary to be occupied or used in conjunction with the single dwelling-house.
62M Unutilised value allowance to be reascertained in certain cases
If the land value of land in respect of which an unutilised value allowance was ascertained is altered (whether as the result of being reascertained or on objection or appeal or for the correction of a clerical error or misdescription), the Valuer-General must reascertain an unutilised value allowance for that land value.
62N Unutilised value allowance can be objected to
(1) An objection under Part 3 of the Valuation of Land Act 1916 may be made to an allowance ascertained under this Division as if it were a land value.(2) The right to object in respect of the land value of land includes the right to object on the ground that an allowance under this Division has not been ascertained for that land value.