 |
|||||||||||||||
|
Browse Online:
In this section:
Download Print Version:
|
PRODUCTS AND SERVICES (By Outcomes)Valuation ServicesContribution to the Strategic Planning Framework: Goal 2 - The Economy, Goal 4 - The Regions, Goal 5 - Governance Desired OutcomeIndependent valuations support Government's collection of rates and taxes, and management of property assets. Western Australian rate and land taxpayers rely on accurate valuations to provide a fair, impartial and equitable rating base. Under the authority provided in the Valuation of Land Act 1978, the Valuer General maintains valuation rolls for this purpose. In addition to determining rating and taxing values the Valuer General provides an independent property valuation and consultancy service to State and local governments and statutory authorities. Valuations are made for various reasons including the disposal, acquisition or leasing of land; compensation; stamp duty assessment; and financial asset management and reporting. Property Data VerificationThe quality of property data is fundamental to the integrity of gross rental values and sales information. The number of local governments assisting the Valuer General in identifying changes to buildings has continued to increase, resulting in an improvement in data quality. In addition, the Valuer General has, through verification exercises and field-work associated with the valuation program, improved existing property records. Approximately 40,000 property records have been improved over the year. Government Property RegisterDuring the year, records of all Government owned property held in the mainframe computer based Government Property Register were matched against corresponding valuation records in the valuation system 'ValSys'. For the first time in June 2004, agencies received their property and valuation reports for financial reporting directly out of ValSys. A total of 127,012 valuations were produced and reported as at 30 June 2004. The mainframe computer will be de-committed in 2005. Goods and Services Tax (GST) ValuationsThere is a continuing need for agencies to seek advice on the impact of GST on the sale or purchase of land. The Valuer General continues to be consulted for advice on valuations that involve the utilisation of the margin scheme and for the supply of "valuation certificates" required under GSTR 2000/2001. Providing this service has involved a number of consultations with the Australian Tax Office to clarify interpretations and rulings. Service Level Agreements (SLAs)The SLA devised with the Water Corporation involves the provision of rating valuations. This SLA was renegotiated during the year and extended Statewide. The SLA with the Commonwealth Government for the provision of valuation services to the Indian Ocean Territories was also renewed. Both agreements continued to be highly successful. Statements of Service Levels were provided to all metropolitan local governments and may lead to the creation of SLAs in 2004/05. Discussions with large country local governments also commenced. In addition, a SLA with the Office of State Revenue will be formalised during 2004/05. Plant and Equipment ValuersThe demand for plant and equipment valuations continued at high levels. However the inability to recruit additional valuer resources due to buoyant market conditions meant that growth in this area was curtailed. Property Lease RegisterThe Valuer General continues to liaise with stakeholders in relation to the establishment of a lease register. Metropolitan Branch - Rating and Taxing ValuesThe Metropolitan Branch completed 534,950 unimproved values and 443,564 gross rental values. These are required to maintain the valuation base for the determination of rates and taxes within the Perth metropolitan area. A total of 861 objections, appeals and queries against rating and taxing values were processed. 10,464 values were made for purposes other than for rating and taxing. All metropolitan local governments were subject to an unimproved value General Valuation, and significant work was undertaken on the triennial gross rental value General Valuation due to come into force from 1 July 2005. Country Branch - Rating and Taxing ValuesThe Country Branch made a total of 323,954 unimproved values and 70,361 gross rental values for rating and taxing throughout Western Australia. Additionally, a total of 600 objections, appeals and queries against rating and taxing values were processed. This was a 22% reduction in disputes over the previous year. A total of 127,012 asset valuations for financial reporting and 4,788 valuations for other purposes were made. The following 20 local governments, were subject to gross rental value based General Valuation: Brookton, Broomehill, Bruce Rock, Bunbury, Chittering, Corrigin, Cranbrook, Esperance, Geraldton, Greenough, Katanning, Narembeen, Northampton, Pingelly, Plantagenet, Tambellup, Toodyay, Waroona, West Arthur, Woodanilling. Other ValuationsSeveral major consulting projects were carried out. These included the five yearly rental review of all pastoral leases throughout Western Australia required under the Land Administration Act. This two-year project required the inspection and analysis of leasehold sales as well as the assessment of rents throughout WA. The taking of State Corridor Rights for the Dampier Bunbury Natural Gas Pipeline corridor required compensation valuations for more than 170 farming properties situated between Baldivis and Bunbury.
|
Useful Information: |
| © 2005 Department of Land Information |