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

Discussion in 'Development' started by Keentolearn77, 11th Oct, 2019.

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  1. Keentolearn77

    Keentolearn77 Well-Known Member

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    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.......
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    It's far easier to dedicate 5% of the land area than to provide a cash contribution. No monetary value needs to be calculated.
     
  3. jyeung80

    jyeung80 Well-Known Member

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    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.
     
  4. willy1111

    willy1111 Well-Known Member

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    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.
     
  5. lixas4

    lixas4 Well-Known Member

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  6. lixas4

    lixas4 Well-Known Member

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    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.
     
  7. Keentolearn77

    Keentolearn77 Well-Known Member

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The shift to the regions has been quite profound with Millennials and Gen X leading the way. It seems affordability, lifestyle, and working from home have been the key drivers from which these generations have been able to take most advantage.