How is compensation for the compulsory acquisition of my property determined in NSW?
In NSW, s55 of the Land Acquisition (Just Terms Compensation) Act 1991 states the relevant matters to be considered in determining the amount of compensation. It states that regard must be had to the following matters only:
(a) the market value of the land on the date of its acquisition,
(b) any special value of the land to the person on the date of its acquisition, [Read more]
(c) any loss attributable to severance,
(d) any loss attributable to disturbance,
(e) solatium,
(f) any increase or decrease in the value of any other land of the person at the date of acquisition which adjoins or is severed from the acquired land by reason of the carrying out of, or the proposal to carry out, the public purpose for which the land was acquired.
An expert valuer at Rushmore can assist you formulate a valuation for the purposes of the NSW Land Acquisition (Just Terms Compensation) Act.