[Susan Pardy]

Hi all,
I have come across a Sec 125 allowance on our supplementary list (first time our Council has come across one). It appears as though this allowance has been granted due to the property being added to the State Heritage Register.
The land value is $100,000 and the allowance is $84,000. I was therefore expecting the rateable land value to be calculated by our system (Authority) to be $16,000. Instead, the rateable land value is showing as $84,000. I have input this allowance just like our other allowances (but obviously changing the allowance type) however this allowance doesn’t appear to calculating in the same manner as our other ones.
So, does anyone have any comments to make about how an allowance under Sec 125 is calculated differently? Is there anyone else using Authority that has a Sec 125 allowance that can assist?
Thanks everyone in advance for your time,
Cheers
Susan

[Robert Hay]

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

[Cherie Muir]

Hi Susan
Yep, agree with Robert. The 125 amount is your LV amount for rating $84k. S.125 values don’t work like allowances as you say.
Cherie

[Susan Pardy]

Thanks very much Robert and Cherie and to those who rang me about this. I appreciate all of the feedback and have now learnt something new!
Cheers everyone
Susan

[Author]

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