THE 2013 INQUIRY INTO THE NSW LAND VALUATION SYSTEM
In January 2013, the Joint Committee on the Office of the Valuer General called for an Inquiry into the NSW Land Valuation System.
The Inquiry follows long held questions surrounding the integrity of the current valuation and land tax assessment system, managed by the office of the NSW Valuer-General, which issues about 2.4 million valuations a year.
The current Committee comprises Matt Kean MP (Chair), The Hon. Scot MacDonald MLC (Deputy Chair), Mr Clayton Barr MP, The Hon. Eric Roozendaal MLC, and Ms Leslie Williams MP.
The Committee monitors and reviews the exercise of the Valuer-General's functions with respect to land valuations. In particular, the Committee can monitor valuation methodologies, the arrangements under which valuation contracts are negotiated and entered into, and the standard of valuation services provided under such contracts.
The Inquiry intends to "investigate the extent to which the current land valuation system delivers transparent, efficient, equitable and consistent outcomes for stakeholders. This includes monitoring and reviewing the exercise of the Valuer General's functions with respect to land valuations under the Valuation of Land Act 1916 and the Land Tax Management Act 1956.".
Importantly, the Committee intends to inquire and report on measures to improve transparency within the system, measures to achieve greater efficiency within the system, the need for possible amendments to the Valuation of Land Act; and a cost-benefit analysis of proposed changes to the system.
To view the Committee's Terms of Reference, click here.
To view the Issues Paper issued by the Committee, click here.
The Committee does not, however, have the ability to review individual valuations or objections to individual valuations. The processing of these issues remains the responsibility of the statutory officer, the Valuer-General.
We believe this Inquiry is long overdue and hopefully will meet our call for a Public Inquiry - something we have been agitating for since the release of the Walton Report in 1999.
To view submissions to the Committee, click here.
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