FAQs
regard is to be had to the land classifications and zonings existing at the date of valuation;
the date of valuation is to be the date on which the City nominates;
ignoring any improvements or works on the land;
the land should be valued without regard to the Infrastructure work and the purpose for which the land is acquired shall not be taken into consideration;
in selecting relevant sales evidence, regard should be had first to values derived from land in the same area, and if there is not adequate evidence, from nearby or similar land in the area, in priority to any other sales evidence;
the method of valuation shall otherwise be in accordance with normal fair market valuation principles.
- Adjustments being made to the cost of some projects to reflect current infrastructure construction costs based on present market conditions;
- The length of time since the previous ICS review in 2022;
- The increase in land valuations associated with the land to be acquired under the DCP; and
- The increase in Cost Estimates relating to each of the proposed Infrastructure Items listed in the Infrastructure Cost Schedule.
What is the approach that the City applies to determine the valuation of land in the advertised DCP review?
In ascertaining the Assessed Value or Assessed Values under DCP 4, all land shall be valued in its broad acre form as depicted on 1 January 2019, ignoring any services or infrastructure provided in-accordance with the provisions of the relevant Structure Plan and applying the following principles:
Why has the Cost Contribution per ha (Base) rate increased since the last DCP review?
The proposed increase in the Cost Contribution per ha (Base rate) of $131,421.47 since the previous Infrastructure Cost Schedule review (approved on 27 September 2022) is due to the following factors:
When does a DCP contribution become payable?
A DCP contribution liability generally only arises when a landowner is proposing to subdivide and develop their land to its ultimate full potential. Development Contributions become payable towards the end of the subdivision or development process prior to new titles being issued or the development being completed. This DCP review is not proposing to change this approach.