2 Feb 2017
NGĀTI WHAKAUE EDUCATION ENDOWMENT TRUST BOARD v ROTORUA DISTRICT LAKES COUNCIL [2017] NZHC 60
- Citation
- [2017] NZAR 376
- Court
- High Court
The valuation for rating purposes must be based on the price obtainable in a notional sale between willing but not anxious parties of the owner's estate as it exists, and where that estate is permanently prohibited from being alienated by statute the valuation must take that prohibition into account; s 21 is inapplicable where the relevant effect arises from inalienability rather than lease terms, and the extent of any discount is a matter for valuers to quantify.