[Dallas McConnell]

Hi Team,

We have quite a few properties in the last re-val who lost their postponed valuation.
Two questions;

1) Im in two minds as to whether or not the postponed component of the rates would become due and payable when they lost the valuation, or if they should just continue to drop off over the next few years until they are written off each year? When we queried with the VG’s were told there was no difference in valuation and hence lost the postponed value.

2) Do you show the postponed rates on a separate notice or on the one notice?

Cheers,
Dallas

[Trevor Holland]

G’day Dallas

Have come across this scenario before. Always took the approach that the remaining postponed rates and charges would drop off over the next few years.

Don’t see how the postponed rates legislation would allow them to become due and payable.

Each database handles postponed rates differently. Know Pathway created a separate notice for postponed & payable rates. Not sure how TechOne handles postponed rates as we don’t currently have any properties with Postponed Rates here at Lithgow.

Hope this helps.

Trevor

[Darryl Telfer]

I recall having to request VG to provide new Attributable Values at each Reval for those with postponed rates. May be worth checking??

[Andrew Butcher]

Hi Dallas

I agree with the above, effectively what the VG has done is said that they don’t see any additional value in the lands permitted use over its actual use. This does not affect the previous years postponed as there was additional value and they should be allowed to be written off as they age or be brought to account if the property is sold or there is a change (per the Act).

When this occurs with us, we enter a nil attributable part for record keeping purposes, and in effect that is what the VG has advised, but it is not necessary to do so.

The notice I guess is up to you how it looks and what it contains but a notice must be served to meet the requirements of the Act for liability. We use Pathway and it generates a separate notice page, it does separate arrears from current rates and interest charges.

Hope this is helpful.

Regards,
Andrew

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