Hi Susan
HERITAGE ACT 1977
125 Making of heritage valuations with other valuations
(2) When a heritage valuation is made of land, there is to be no allowance made or other adjustment of that valuation on account of the effect on value of any factor concerned with the land being listed on the State Heritage Register, other than an allowance or adjustment resulting from the assumptions required by this Division for a heritage valuation.
What this means is the section 125 valuation takes the place of the LV for rating purposes.
Hope this helps
Robert
