The Independent Pricing and Regulatory Tribunal (IPART) is reviewing the maximum prices that the Valuer General can charge for valuation services to councils from 1 July 2019.
The Valuer General’s land valuations are used by local councils as the basis for calculating and issuing rates notices to ratepayers. Councils currently pay around one-third of the Valuer General’s total costs of providing valuation services to a range of different entities, with the NSW Government covering the remainder.
Releasing an Issues Paper for public comment today, IPART Chair Dr Peter Boxall said the review will determine the efficient costs of the Valuer General’s valuation services and how these costs should be recovered from both councils and the NSW Government over the next six years.
"Feedback is being sought from local councils, the Valuer General, selected government agencies, and other interested stakeholders and users of valuation services," Dr Boxall said.
"We’re inviting comment on our proposed approach to the review, which will involve determining the Valuer General’s efficient costs, how much of those costs should be allocated to councils, and an appropriate pricing structure to recover these costs from councils."
IPART has been asked to determine the Valuer General’s prices for councils only, as these are declared government monopoly services. It has not been asked to set prices for services delivered to other users of the Valuer General’s valuation services.
The Issues Paper is available from IPART’s website, www.ipart.nsw.gov.au. Submissions close on 11 January 2019.
IPART has been asked to release a Final Report by 31 May 2019. Prior to this, stakeholders will have opportunity to attend a public hearing in February 2019 and make submissions to a Draft Report in April 2019.
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