Land Compensation Valuations and Assessments for Resumption or Compulsory Acquisition.
Agencies of the West Australian Government and Local Councils sometime have the need to acquire your land (or part thereof) for a variety of purposes. Recent examples include the Bunbury Outer Ring Road and Metronet. They are, under the Land Administration Act 1997, generally entitled to take any privately owned land for public work purposes such as roads or infrastructure. This process can be done without the consent of the owner and is known as a land resumption or compulsory acquisition. The Act provides a framework and procedure to determine the compensation amount for the acquisition from the land owner.
When the government requires the land, they generally acquire by negotiation or formal taking action under the powers contained in the Land Administration Act 1997.
There are various “Heads of Claim” that, including the value of land taken, the impact on the remaining land (if not taken in entirety) and various other compensation components. These can include the injurious affect of the remaining land (eg a lower equivalent value of the remaining land), reinstatement, disturbance/displacement, relocation and equivalent stamp duty to put you back in a position (as far as a monetary value is concerned) as before the land is taken.
The licensed valuations team at Spraggon George, are experienced in providing compensation valuations when an owner or entity is entitled to compensation as a result of your land being acquired, whether in portion or whole.
Our duty under the Valuer’s Code of Conduct is to provide an impartial assessment that, based on our expert opinion, correctly assesses adequate compensation from the acquiring authority to the land owner.
The valuation will determine an adequate amount that will be compensated based on the current market value of the property. We are required under the WA Legislation to provide an fair and objective viewpoint. In most cases the respective WA Government body will reimburse you for the engagement of a licensed valuer to provide an assessment on your behalf. .
A link here to the WA Government website provides some guidance on land resumption and compulsory acquisition: CLICK LINK HERE
If you have been approached by a government body to acquire your land, or if a Notice of Intention to Take (NOIT) has been issued, please contact us and we will endeavour to assist.