Revaluation Initiative

March 2, 2020

5 February 2020

 

The Hon. J.A. DARLEY (16:56): I seek leave to make a brief explanation before asking the Minister for Trade and Investment, representing the Minister for Transport, Infrastructure and Local Government, a question regarding the Revaluation Initiative being implemented by the Valuer-General.

 

Leave granted

.

The Hon. J.A. DARLEY: In the 2016-17 financial year, $15.45 million was allocated to the Revaluation Initiative project. One aim of this project was to address the accuracy of independent living unit records and valuations in retirement villages. I understand this component of the project was placed on hold until the joint committee of the parliament released its findings on 12 November 2019. My questions are:

 

1. How much of the original budget of $15.45 million was allocated to address independent living unit records and valuations?

 

2. How much of that amount has been spent to date?

 

3. What is the estimated cost to complete this project in light of the joint committee's findings, and is this more or less than was budgeted in 2016?

 

4. What is the estimated completion date of this component of the project?

 

 

The Hon. D.W. RIDGWAY (Minister for Trade and Investment) (16:58): I thank the honourable member for his question and will take that on notice and refer it to my colleague the Hon. Stephan Karl Knoll, Minister for Transport, Infrastructure and Local Government, in the House of Assembly.

 

_____________________________________________________________

 

Response

 

3 March 2020

 

The Hon. D.W. RIDGWAY (Minister for Trade and Investment): The Minister for Transport, Infrastructure and Local Government has advised the following:

 

1. The $15.45 million budget exists to deliver the overall outcomes of the revaluation initiative within a period of time. However there is no specific budget allocated or assigned to address individual portions of the project, such as independent living unit records and valuations.

 

2. As mentioned, there is no specific budget allocation to address independent living unit records and valuations.

 

3. The Valuer-General confirms that the $15.45 million is to deliver overall outcomes of the revaluation initiative which incorporates work associated with independent living unit records and valuations (including any work required as a consequence of the committee's recommendations).

 

4. It is anticipated that this component of the project will be in effect for the 2021-22 financial year.

 

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