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Working out post-chargeable valuation: general

Land Betterment Charge (Table of Rates and Valuation Method) Regulations 2022

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—(1) Subject to Divisions 2 and 3, the post‑chargeable valuation of any land in relation to which a chargeable consent is given is the sum of the following:(a)the value of the development of the land that was previously authorised and is to be retained on completion of any development of, or varying a controlled activity restrictive covenant with respect to, any land under the chargeable consent;(b)the value of —(i)the development a person is entitled to carry out on the land as a result of the giving of the chargeable consent; or(ii)the controlled activity a person is entitled to carry on or not carry on, or a person is released from carrying on, with respect to the land as a result of varying a controlled activity restrictive covenant under the chargeable consent given.(2) For the purposes of paragraph (1)(a), the value of the development of any land that was previously authorised and is to be retained on completion of any development of, or varying a controlled activity restrictive covenant with respect to, any land under a chargeable consent given, is to be worked out in accordance with the formulawhere —(a)A1 is the floor area of the development for any purpose which was previously authorised and is to be retained on completion of the development of, or varying the controlled activity restrictive covenant with respect to, the land; and(b)B1 is the rate in the Second Schedule corresponding to both the appropriate geographical sector of the land and the Use Group within which that purpose in A1 falls.(3) For the purposes of paragraph (1)(b), the value of —(a)the development a person is entitled to carry out on the land as a result of the giving of the chargeable consent; or(b)the controlled activity a person is entitled to carry on or not carry on, or a person is released from carrying on, as a result of varying a controlled activity restrictive covenant under the chargeable consent given,is to be worked out in accordance with the formulawhere —(c)A2 is the floor area of —(i)the development a person is entitled to carry out on the land for any purpose as a result of the giving of the chargeable consent; or(ii)the development on the land in respect of which a controlled activity a person is entitled to carry on or not carry on, or a person is released from carrying on, with respect to the land for any purpose as a result of varying a controlled activity restrictive covenant under the chargeable consent given; and(d)B2 is the rate in the Second Schedule corresponding to both the appropriate geographical sector of the land and the Use Group within which that purpose falls.

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