❓ A WA parliamentary question seeks clarification on land valuation systems (unimproved value, unimproved capital value, gross rental value) and their usage by different levels of government in WA. The Treasurer provides a detailed explanation of each valuation type and their application by local, state, and federal agencies.
AnsweredQoN 1298Legislative Assembly
QuestionView source ↗
(b) how does the unimproved value of land differ from the unimproved capital value; and (c) which of these land valuation systems are used by different Local, State and Federal Government agencies throughout Western Australia and for what purposes are they used?
(c) which of these land valuation systems are used by different Local, State and Federal Government agencies throughout Western Australia and for what purposes are they used?
There are statutory provisions that determine how the gross rental value of land should be calculated in circumstances where the land has no demonstrable rental value – e.g. vacant land or land developed with highly specialised buildings. Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value. Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value. Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
(b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
(c) which of these land valuation systems are used by different Local, State and Federal Government agencies throughout Western Australia and for what purposes are they used?
There are statutory provisions that determine how the gross rental value of land should be calculated in circumstances where the land has no demonstrable rental value – e.g. vacant land or land developed with highly specialised buildings. Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value. Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value. Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State. (b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
(b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia. In relation to which land valuation systems are used at different levels of government and for what purposes, I note that: - local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases; - at a State government level: - gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and - unimproved values are used by the Office of State Revenue for the assessment of land tax; and - at the Federal government level, there is no known use of land valuation systems within Western Australia.
AnswerView source ↗
Answered
19 February 2002
Response time
84 days
(a) Gross rental value is a measure of a property's potential rental assuming it were offered in the marketplace. It is termed 'gross' as it is the rental an owner would receive assuming they were liable for all rates, taxes and other expenses normally incurred by a property owner.
There are statutory provisions that determine how the gross rental value of land should be calculated in circumstances where the land has no demonstrable rental value – e.g. vacant land or land developed with highly specialised buildings.
Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value.
Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State.
(b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia.
In relation to which land valuation systems are used at different levels of government and for what purposes, I note that:
- local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases;
- at a State government level:
- gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and
- unimproved values are used by the Office of State Revenue for the assessment of land tax; and
- at the Federal government level, there is no known use of land valuation systems within Western Australia.
There are statutory provisions that determine how the gross rental value of land should be calculated in circumstances where the land has no demonstrable rental value – e.g. vacant land or land developed with highly specialised buildings.
Unimproved value is effectively the amount the land would sell for in the marketplace assuming the land were vacant. There are a number of statutory provisions that effect the determination of unimproved value.
Capital value is the amount that land including improvements would sell for in the marketplace. Statutory provisions aside, this would normally equate with the market value of an owner’s property. There is no statutory authority for the determination of capital values in this State.
(b) The terms unimproved value and unimproved capital value are effectively synonymous, and various States use either term. Unimproved value rather than unimproved capital value is the terminology used in Western Australia.
In relation to which land valuation systems are used at different levels of government and for what purposes, I note that:
- local government uses gross rental values for rating within town-sites and other prescribed areas, and unimproved values for rating of endowment lands, non-urban areas and mining and other leases;
- at a State government level:
- gross rental value is used by approved rating bodies such as the Water Corporation and Water Boards, and by the Local Government Grants Commission to assist with the process of distributing grants to Western Australian local governments; and
- unimproved values are used by the Office of State Revenue for the assessment of land tax; and
- at the Federal government level, there is no known use of land valuation systems within Western Australia.
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