Date of Valuation- “Section 155 of the Planning and Development Act 2005 provides that the market value of POS is determined as at the date on which the valuation is made rather that at the date of the conditional subdivision approval. This ensures that the payment made is a genuine reflection of the value of the property at the time the payment is made.”
Section 155 (5) of the Planning and Development Act 2005 reads as follows:
“If within 90 days, or such longer time as is agreed in writing by the local government, of the date on which the valuations is made the owner of the land has not-
- paid the amount of the valuations; or
- disputed the valuation under section 156,
the local government may, by written notice to the owner of the land, determine
that the valuation is no longer current and that a fresh valuation is required.”
In-accordance with Section 155 of the Planning and Development Act 2005, the market value of land for calculation of a cash-on-lieu payment “is to be determined, at the cost of the owner of the land, by a licensed valuer agreed upon by the parties or, failing agreement, appointed by the local government”.
The City has appointed a Valuation Panel to provide valuation advice to the City and as its preferred valuers for valuation advice, including cash-in-lieu valuations. Their details are:
DTZ Australia (WA) Pty Ltd
PO Box Y3440
EAST ST GEORGES TERRACE WA 6832
Phone: 9325-5880 Fax: 9325-5881
dennis@dtzwa.com.au
Heron Todd White
PO Box Y3454
EAST ST GEORGES TCE WA 6832
Phone: 9492-3333 Fax: 9492-3300
ray.gourlay@htw.com.au
More information on the POS Cash-in-Lieu arrangements can be obtained via the following sources: