Hanna v Valuer General [2004] NSWLEC 544

Hanna v Valuer General [2004] NSWLEC 544

The sales in the 2(a) zone could be used as comparable sales because the 2(a) and 3(c) zones permitted many similar land uses and the 3(c) zone objectives did not make those uses incapable of approval. The most comparable sale was sale No. 1 at 20 Villiers Street, Rockdale. With no zoning adjustment, an unopposed plus 5% adjustment for area and dimensions, and a minus 20% adjustment for the triangular shape of the subject site, the appropriate total adjustment was minus 15%, producing an indicated land value of about $565,361 and an adopted land value of $565,000.

Jurisdiction
Australia
Judgment Date
03 September 2004
Procedural Posture
Appeal Under S. 37 of the Valuation of Land Act 1916 Against the Valuer General's Determination of Land Value / Ex Tempore Judgment
Outcome
Appeal upheld; land value determined at $565,000.
Legal Topics
['determination of Land Value' 'comparable Sales' 'capitalisation Method' 'neighbourhood Business Zoning' 'residential Zoning' 'highest and Best Use']
['valuation of Land' 'environmental Planning and Assessment'] ['determination of Land Value' 'comparable Sales' 'capitalisation Method' 'neighbourhood Business Zoning' 'residential Zoning' 'highest and Best Use']

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Procedural Posture

Appeal Under S. 37 of the Valuation of Land Act 1916 Against the Valuer General's Determination of Land Value / Ex Tempore Judgment

Legal Issues

  1. 1 ['Whether sales of land zoned 2(a) residential could be used as comparable sales for valuing land zoned 3(c) Neighbourhood Business.' 'Whether the capitalisation method should be used because there were no comparable sales in the 3(c) zone.' 'What adjustment should be made for the triangular shape of the subject site compared with the regular shape of the most comparable sale.' 'What land value should be determined for 3-7 Clarence Road, Rockdale at base date 1 July 2003.']

Ratio Decidendi

The sales in the 2(a) zone could be used as comparable sales because the 2(a) and 3(c) zones permitted many similar land uses and the 3(c) zone objectives did not make those uses incapable of approval. The most comparable sale was sale No. 1 at 20 Villiers Street, Rockdale. With no zoning adjustment, an unopposed plus 5% adjustment for area and dimensions, and a minus 20% adjustment for the triangular shape of the subject site, the appropriate total adjustment was minus 15%, producing an indicated land value of about $565,361 and an adopted land value of $565,000.

Court Disposition

Appeal upheld; land value determined at $565,000.

Orders

  • ['The appeal is upheld.' 'The land value for land at 3-7 Clarence Road, Rockdale, Property Identification No. 1517612 Rockdale at base date 1 July 2003, is $565,000.' 'The exhibits are returned.']