Hewitt v Valuer General [2004] NSWLEC 728

Hewitt v Valuer General [2004] NSWLEC 728

The Court accepted the Valuer-General's comparable sales methodology over the Applicant's poorly supported hypothetical development and uneconomic-return analysis. The approved 12 unit SEPP 5 development was the highest and best use, but the Court allowed for a contracting SEPP 5 market from mid 2003 by adopting $140,000 per unit rather than $160,000 per unit, producing an unimproved land value of $1.68 million at 1 July 2003.

Jurisdiction
Australia
Judgment Date
24 December 2004
Procedural Posture
Class 3 Proceedings Challenging the Valuer General's Assessment of Unimproved Land Value Under the Valuation of Land Act 1916 / Judgment After Hearing
Outcome
Applicant's appeal upheld; unimproved land value reduced to $1.68 million.
Legal Topics
['unimproved Land Value' 'highest and Best Use' 'comparable Sales Methodology' 'hypothetical Development Methodology' 'sepp 5 Housing' 'valuation of Land Act 1916']
['land Valuation' 'planning and Environment' 'land Tax Valuation'] ['unimproved Land Value' 'highest and Best Use' 'comparable Sales Methodology' 'hypothetical Development Methodology' 'sepp 5 Housing' 'valuation of Land Act 1916']

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Procedural Posture

Class 3 Proceedings Challenging the Valuer General's Assessment of Unimproved Land Value Under the Valuation of Land Act 1916 / Judgment After Hearing

Legal Issues

  1. 1 ['Whether the highest and best use of the land is for twelve SEPP 5 villa houses or alternatively six townhouses.' 'Whether the proper valuation methodology is by comparable sales or hypothetical development.' 'What should be the adjusted land value per lot for comparable sales if the land is developed for SEPP 5 villas or for townhouses and villas.' "Whether the Applicant's method of valuation is a recognised valuation methodology for vacant land."]

Ratio Decidendi

The Court accepted the Valuer-General's comparable sales methodology over the Applicant's poorly supported hypothetical development and uneconomic-return analysis. The approved 12 unit SEPP 5 development was the highest and best use, but the Court allowed for a contracting SEPP 5 market from mid 2003 by adopting $140,000 per unit rather than $160,000 per unit, producing an unimproved land value of $1.68 million at 1 July 2003.

Court Disposition

Applicant's appeal upheld; unimproved land value reduced to $1.68 million.

Orders

  • ["The Applicant's appeal is upheld." 'The unimproved land value of 43-47 Clarke Street, Peakhurst at 1 July 2003 is $1.68 million.' 'Costs are reserved.' 'Exhibits may be returned.']