Open space contributions -Boronia -Knox council VIC

Discussion in 'The Buying & Selling Process' started by James Baker, 1st Jun, 2019.

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  1. James Baker

    James Baker Well-Known Member

    Joined:
    21st Mar, 2017
    Posts:
    280
    Location:
    Melbourne
    Hi there

    I looked up the 53.02 open space requirements for Knox council which says 8.5% of land value. Any idea if I have to pay flat 8.5% charges of the site value shown in the rates notice as open space contributions if I develop 3 townhouses on a plot and subdivide ?

    It amounts to $51,000 if the value of the land is around $600,000. Would someone be able to advise if the calculations are right and at what stage does this payment need to be made?

    Thanks!

    Cheers
     
  2. willy1111

    willy1111 Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    285
    Location:
    Melbourne
    It gets paid when the subdivision goes through so towards the end...and they value it at that time so it might be slightly more.

    I didn't enjoy paying them that amount either..it's almost like they are a partner...stuff you around for 2 years getting approvals...builder knocks em up in 6 mths and then they want $50k from you :eek:

    3 is probably the worst you can do from a profitability point of view...no open space on a dual occ and then 8.5% or 50k on 3 or more.
     
    craigc likes this.