[Megan Bugge]

Good Morning All

Griffith currently adjusts allowances upon settlement. We have now been questioned by a conveyance firm, as it their property, that council can not do this under section 14 V of the Valuation of land act, it must remain until the 30 June.

Our Section 603 certificate advised that we would adjust but a figure was not applied. If others adjust how do you note this on your s 603 and do you make note of land value and allowance values separately.

Thanks
Megan

[Linda Helson]

Hi Megan,

I don’t adjust upon settlement, I just amend so the next rate levy will reflect the full land value. So basically the new owner gets the benefit for the remainder of the rating year. Not sure if that’s correct or not, but I don’t part year rate (ie for subdivisions, etc) so have taken the same philosophy on Section Allowances to try to be consistent (ie levy is whatever the LVs are at the time of 1 July).

[Megan Bugge]

Thanks Linda, I had a feeling that you might say that…

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