Is open space levy 5% calculated against the site value or cap improved value

Hi

I need to get an answer from maroondah council - in business hrs, I cannot find online answer - does anyone know if the 5% open space levy is calculated against the site value or the capital improved value.......

 

It's far easier to dedicate 5% of the land area than to provide a cash contribution. No monetary value needs to be calculated.

 

I enquired about this a while ago. I was told it was the site value. U can always call up the planning department and have it verified.

 

It was the site value when I did it a few years ago...Council sent out their own valuer to assess the value of the land prior to subdivision.

 

SUBDIVISION ACT 1988 - SECT 18 Council may require public open space

See section 18(1)(b) subdivision act 1988. (Above link)

Its site value.

Link to definition of site value below.

VALUATION OF LAND ACT 1960 - SECT 2 Definitions value;mask_path=au/legis/vic/consol_act/vola1960173

Site value = unimproved land value

 

Exactly, statement of compliance for the subdivision cannot be issued until contributions are paid. A valuation is ordered and must be paid within 1 year, or a new valuation is required.

 

Great Stuff

Thanks Lixas!!