These proceedings concerned the valuation of land owned by Eumundi Group Hotels. The land being used for a bottle shop and tavern had been valued by the Valuer-General for rating and taxing purposes. The value of the land, determined by the Valuer-General to be AUD 3,800,000, was disputed by Eumundi Group. On the Valuer-General’s affirmation of this amount, the Eumundi Group appealed to the Land Court contending that the land was worth AUD 3,000,000. The Land Court determined that the land had a value of AUD 4,500,000 (the Valuer-General’s revised appraisal). The Eumundi Group appealed that decision on the bases that: the Member should not have rejected the evidence that was put forth for their valuation, the Member should have rejected the evidence put forth for the Valuer-General’s valuation, and the Valuer-General’s valuation was accepted without proper consideration of the evidence.
On appeal, Boddice J, Kingham P and Stilgoe M determined that the correct value of the land was AUD 3,515,000. This figure was based on the Eumundi Group’s assessment of a value of AUD 470/m2, with deductions to account for the land encumbered by easements and the cost of work on the site.
Rob Anderson QC (with J Hastie) appeared for the respondent, instructed by In-house Litigation Unit, Department of Resources.
The judgment is published here.