Land and Environment Court New South Wales Medium Neutral Citation: Genovese v Valuer General of New South Wales [2022] NSWLEC 1594 Hearing dates: Conciliation Conference on 12 October 2022 Date of orders: 27 October 2022 Decision date: 27 October 2022 Jurisdiction: Class 3 Before: Kempthorne AC Decision: The Court orders: 1) The Appeal is upheld. 2) The Land Value for Lots 1, 2, 3, 4, 5, 6 CP/SP89354 and NSW Maritime Lease 30003283 known as 86 St Georges Crescent, Drummoyne for the valuing year 1 July 2021 is determined in the amount of $10,150,000 in accordance with section 6A of the Valuation of Land Act 1916. 3) Each party is to bear its own costs in these proceedings. Catchwords: VALUATION OF LAND – objection to issued Land Value – conciliation conference – agreement between the parties – orders Legislation Cited: Land and Environment Court Act 1979, s 34 Valuation of Land Act 1916, ss 6A,14A, 34, 35B, 35C, 37 Category: Principal judgment Parties: Rose Genovese (Applicant 1) Rinaldo Genovese (Applicant 2) Valuer General of New South Wales (Respondent) Representation: Counsel: M Cridland (Solicitor) (Applicants) L Johnston (Respondent) Solicitors: K & L Gates (Applicants) Crown Solicitors Office NSW (Respondent) File Number(s): 2022/221607 Publication restriction: Nil Judgment 1. COMMISSIONER: This Class 3 application arises from the disallowed objection and subsequent appeal by the Applicants pursuant to s 37 of the Valuation of Land Act 1916 (Valuation Act) in respect of the Land Value for the Valuing Year 1 July 2021 of Lots 1, 2, 3, 4, 5, 6, CP/SP89354 and NSW Maritime Lease 30003283 (the Property). Jurisdiction Pre-requisites 1. The Valuer General of New South Wales (VG) issued a Notice of Valuation in accordance with s 14A of the Valuation Act to the Applicants for the Property in respect of the Valuing Year 2021 with a Land Value of $13,500,000. 2. The Applicants lodged an objection with the VG's office to the issued Land Value pursuant to s 34 of the Valuation Act. 3. The VG allowed the Applicants' objection pursuant to s 35B and issued a Notice of Determination as required by s 35C of the Valuation Act to the Applicants with a Land Value of $12,560,000. 4. The Applicants' solicitor lodged an Appeal to the Notice of Determination pursuant to s 37 of the Valuation Act in this Court on 28 July 2022. 5. The Land Value contended by the Applicants in the Appeal was $5,609,688. 6. The Court arranged a conciliation conference under s 34(1) of the Land and Environment Court Act 1979 (LEC Act) between the parties on 12 October 2022. 7. I presided over the conciliation conference. s 34 Agreement 1. During the conciliation conference, the parties reached agreement as to the terms of a decision in the proceedings that would be acceptable to the parties (being a decision that the Court could have made in the proper exercise of its functions). 2. The terms of decision agreed to by the parties were: 1. The Appeal is upheld. 2. The Land Value of Lots 1, 2, 3, 4, 5, 6, CP/SP89534 and NSW Maritime Lease 30003283, known as 86 St Georges Crescent, Drummoyne for the Valuing Year 1 July 2021 is determined as $10,150,000. 3. Each party is to bear its own costs in these proceedings. 1. I am satisfied that the parties' decision is one that the Court could have made in the proper exercise of its functions, as required by s 34(3) of the LEC Act. 2. As the parties' decision is a decision that the Court could have made in the proper exercise of its functions, I am required under s 34(3) of the LEC Act to dispose of the proceedings in accordance with the parties' decision. Orders 1. The Court orders: 1. The Appeal is upheld. 2. The Land Value of Lots 1, 2, 3, 4, 5, 6, CP/SP89534 and NSW Maritime Lease 30003283, known as 86 St Georges Crescent, Drummoyne for the Valuing Year 1 July 2021 is determined as $10,150,000 in accordance with section 6A of the Valuation of Land Act 1916. 3. Each party is to bear its own costs in these proceedings. ………………………… P Kempthorne Acting Commissioner of the Court ********** DISCLAIMER - Every effort has been made to comply with suppression orders or statutory provisions prohibiting publication that may apply to this judgment or decision. The onus remains on any person using material in the judgment or decision to ensure that the intended use of that material does not breach any such order or provision. Further enquiries may be directed to the Registry of the Court or Tribunal in which it was generated. Decision last updated: 27 October 2022