Land Tax

In reply to the Hon. J.A. DARLEY (1 August 2019).

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

The average % increase for site values in Unley: +11.2%

The average % increase for site values in Walkerville: +10.1%

The average % increase for site values in Adelaide Plains: +7.1%

The average % increase for capital values in Unley: +5.4%

The average % increase for capital values in Walkerville: +4.8%

The average % increase for capital values in Adelaide Plains: +11.0%

To arrive at the above percentage figures the following calculation was undertaken:

the percentage change of each property was determined and the average of those changes was calculated for the three local government areas requested;

the valuations that have been used were in force in the 2018-19 financial year compared to the 2019-20 financial year (2019-20 data was as at 8 July 2019);

where the owner of land was entitled to a concessional notional value, these were ignored in the calculations and the regular substantive values for the property were used in their place; and

the calculation also included the uplift in value associated with new improvements, such as houses being valued for the first time resulting in valuation changes much greater than regular market movement.