RMA Country Conference Marysville 2019 Robert Marsh Valuer General 4 April 2019
Valuer General Victoria Functions Annual Centralised Valuations Valuations for Government DHHS, SRO. SSP, Places Vic, MMR, LXRA, Western Distributor, OSARs, OMRR, Eastlink, NELink Municipal Rating valuations for property taxation/rating purposes Council Rates, Land Tax and Fire Services Property Levy, ARMB service charges etc Report and provide statistical information on property market trends and rating valuation outcomes Quarterly Property Sales Report, Annual Guide to property Values, DTF indices 2
State of Victoria – 2018 Revaluation 3
State of Victoria – 2018 Revaluation Assessment Numbers Population 6.385 million 3300000 State area 237,590 sq km 79 councils - 72 Councils use 3100000 CIV. 7 use NAV 159,000 2900000 Annual revenue of $9b 82,000 170,000 Local Government rates - 2700000 176,000 167,000 79,000 approximately $A5.08* NRL 167,000 76,000 166,000 156,000 2500000 Rural State Land Tax $A3.1b - 72,000 161,000 Industrial 153,000 69,000 based on site value* Commercial 147,000 2300000 66,000 152,000 Residential Fire Service levy – annual 174,000 Category revenue of $642m* 2100000 2,582,000 Metropolitan improvement 2,457,000 2,350,000 levy - $176m 1900000 2,250,000 2,210,000 2,080,000 1700000 *2018/19 budget figures 1500000 2008 2010 2012 2014 2016 2018 4
Victorian Annual Valuation Process Annual Centralised Valuations SMG & High Risk Prop Review Inspections & Data Accumulation Stage 2 Stage 1 Preparation Analysis Data Validation Data Analysis Objections Supps Determined Appeals / VCAT Issue Valuations Enquiries & Objections Project Plan Supps Modelling Budget Process Supps Return Contracts Valuations Confirmed Stakeholder Preparation Presentations Supps Apply & Supps Confirm Supps Valuations Return Valuations Stage 4 Stage 3 Review Application Review & Quality Assurance Advertise Contracts 6
Annualised and Centralised Valuations 7
Council Status for 2019 Reval 9
2019 Metro Contracts 10
2019 Country Contracts 11
2019 Annual General Valuation Recommen ded Stage Title and key tasks completion date Preparation - project plan, data validation, SMG and HRP review General planning and preparation for the 1 31 July 2018 revaluation. Provide a detailed project plan. Confirm sub market groups. Identify and nominate high risk properties. Analysis - inspections, data accumulation, sales analysis and modelling 31 December 2 2018 Data collection, analysis and value level setting Application - apply and confirm valuations 28 February 3 2019 The valuation of all properties Review – quality assure and return Quality checks, exception reporting, final 4 adjustments. Valuation return, 30 April 2019 valuer’s final report, and provision of valuation databases. 12
2019 Valuation Outcomes Victorian Median House Sales Victorian Median House Sales 810,000 30,000 790,000 766,000 770,000 740,000 753,250 745,000 750,000 731,375 720,000 730,000 705,000 700,000 710,000 25,000 675,000 690,000 670,000 642,000 636,800630,000 650,000 630,000 600,000612,000 600,000 610,000 590,000 20,000 570,000 550,000 Country 530,000 Metropol 510,000 itan 490,000 15,000 470,000 450,000 430,000 410,000 375,000 390,000 357,000363,000363,200360,000 370,000 10,000 330,000335,000342,000335,000 350,000 320,000320,000315,000315,000 330,000 306,000305,000 310,000 290,000 270,000 250,000 5,000 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 13
2019 Valuation Outcomes 14
2019 Valuation Outcomes 15
Looking ahead to 2020 SMG & High Risk Prop Review Inspections & Data Accumulation Data Validation Data Analysis Objections Supps Determined Appeals / VCAT Issue Valuations Enquiries & Objections Project Plan Supps Modelling Budget Process Supps Return Contracts Valuations Confirmed Stakeholder Preparation Presentations Supps Apply & Supps Confirm Supps Valuations Return Valuations Review & Quality Assurance Advertise Contracts 16
Valuation Software Tender 17
Valuer General Valuation Portal Want to find out more about the VVP? • Visit our web page https://www.propertyandla ndtitles.vic.gov.au/valuatio n/vgv-going-digital-project • Contact Penelope Vallentine, Stakeholder Engagement Coordinator by email at vgv.goingdigital@delwp.vic. gov.au or call 03 7004 1434 18
GPO VCAT decision 19
Questions ??
LACA Team West Gate Tunnel Project – Altona to Docklands (72 Valuations – Surface acquisitions) • Freehold and lessees interests • Business Valuations • Relocation assessments • Subterranean land beneath 15.2m of surface now vests with crown. • Owners may claim compensation for loss of stratum land. 21
LACA Team Outer Suburban Arterial Road Program – Western Package (140 Vals) • Industrial improved properties • Inglobo industrial/residential land • Commercial properties • Freehold and lessees interests 22
LACA Team Drysdale Bypass Project (30 Vals) • Mainly rural residential properties, improved and vacant land • Planning issue concerning Pointe Gourde Principal ie if not for Bypass where would town boundary have been. 23
LACA Team Plenty Road Duplication Project • McDondalds Road – Bridge Inn Road, Mernda • 60 Properties 24
Level Crossing Removal Authority – Carrum LACA Team (9 Vals) LACA Team • Commercial shops • Vacant development sites with permits and presold apartments 25
LACA Team Level Crossing Removal Authority – Kananook (7 Vals) • Jayco caravans/motor homes • Sims Metal • Various Industrial improved properties 26
LACA Team Cheltenham Level Crossing Removal Project - Conferences • 22 Properties • Residential and Commercial 27
LACA Team Yan Yean Road Duplications (70 Vals) • Combination of residential dwellings, rural lifestyle properties and commercial operations. 28
LACA Team Hallam/Thompson Road duplication (20 Properties) • Inglobo residential land • Landfill sites • Residential dwellings 29
LACA Team Hyde Street Yarraville Hardship Cases (10 Properties) • Residential dwellings located opposite Mobil Petrol Terminal • Hyde Street will become truck route as a result of the West Gate Tunnel 30
LACA Team Outer Metropolitan Ring /E6 Transport Corridor – Financial Loss Claims (P&E Act) • Approx 1,000 properties are directly affected by corridor reservation which is 100kms in length – Werribee → Epping • Mainly large tracts of inglobo residential development land • Ongoing requests for assessments of compensation for Loss on Sale and Refusal of Permit. 31
LACA Team Western Grassland Reserves – Financial Loss, P&E Act • 10,000 hectares within Reserves • Ongoing requests for Finanicial loss compensation and requests to purchase on hardship grounds • Land subject to high levels of native vegetation 32
LACA Team Kilmore/Wallan Bypass • Financial Loss Claims P&E Act • Approx 50 properties • Rural residential lifestyle properties and inglobo residential land 33
LACA Team Melbourne Metro Rail Project Acquisitions Parkville – Melbourne University Campus CBD North – RMIT campus, Swanston and La Trobe Street properties CBD South – City Square & MCC underground carpark and Brunettis – Swanston St – Hungry Jacks, McDonalds, KFC, Commonwealth Bank, retail shops. – Federation Square Visitor Centre – Flinders St – Port Phillip Arcade 34
LACA Team Melbourne Metro Tunnel Affected Sales Monitoring Project • Approx 3500 properties affected by Tunnel • Land beneath 15.2 metres of surface to vest with Crown • Owners may claim compensation for loss of subterranean land • Project monitoring what if any affect to sale prices of properties located above proposed tunnel 35
LACA Team North East Link (NELA) • Option A estimates of compensation • 180 properties • Residential, commercial, industrial, recreational, Commonwealth Army Barracks 36
LACA Team Mordialloc Bypass • 13 Properties 37
LACA Team Shepparton Alternative Route Improvements Project – Old Dookie Road and Doyles Road; and New Dookie Road and Doyles Road • 12 Properties 38
Questions ??
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