Valuation of Land Regulations 2022 (Tas)

Valuation of Land Regulations 2022

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Valuation of Land Act 2001 .

22 August 2022

B. BAKER

Governor

By Her Excellency's Command,

R. C. JAENSCH

Minister for Parks

1. Short title These regulations may be cited as the Valuation of Land Regulations 2022 .

2. Commencement These regulations take effect on 5 September 2022.

3. Interpretation In these regulations – Act means the Valuation of Land Act 2001 ; GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth.

4. Objection to capital value, land value or assessed annual value For the purposes of section 30(4)(b) of the Act, the prescribed amount is an amount that is 25% higher than the capital value, land value or assessed annual value, as the case may require, of the relevant land.

5. Fee for new valuation (1) For the purposes of section 44(1) of the Act, the prescribed fee is the sum of – (a) an amount determined at the rate of 125 fee units per hour for the time spent in any valuation work, excluding travelling time; and (b) an amount determined at the rate of 85 fee units per hour for the time actually and reasonably spent in travelling for the purposes of the new valuation; and (c) if the land valuer travelled by motor vehicle for the purposes of the new valuation, an amount determined at the rate of 0.6 fee units per kilometre or, if the land valuer travelled by any other means of transport, an amount that was actually and reasonably incurred in relation to that transport. (2) If the amount determined under subregulation (1) is less than the equivalent of 100 fee units, the prescribed fee is an amount equivalent to 100 fee units.