Compulsory Acquisitions
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Need an experienced and certified valuer to determine your property’s value for a compulsory acquisition? At Vanguard Valuations, we provide fast, reliable, and accurate compulsory acquisition valuations.
Compulsory Acquisitions
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What is a compulsory acquisition of land?
Compulsory acquisition of land refers to an authority, typically governments, acquiring private land for public purposes such as upgrading infrastructure or expanding cities. Before the land can be used, owners must be adequately compensated for their property.
Who needs help with the compulsory acquisition process?
Anyone who receives a notice of compulsory land acquisition will benefit from professional help navigating the compensation process. Giving up your land and property can be emotional and challenging, particularly if it’s been in your family for generations. While the acquiring government will provide financial compensation for the land and offer a predetermined value, seeking professional guidance from an independent valuer is essential.
How Vanguard Valuations Helps With Compulsory Acquisitions
Compulsory acquisitions can be overwhelming, emotional and intimidating for many property owners. While the acquiring authority strives to offer a reasonable land acquisition agreement, owners can feel intimidated. Vanguard Valuations acts as an independent valuer to provide a fair valuation report for the acquiring organisation and answer any questions. We take the stress out of an often complicated process and offer the highest level of care. We help clients understand their rights and feel adequately compensated for their property or land.
Costs & Fees of Compulsory Acquisition Valuations
The cost of a property valuation for a compulsory acquisition will depend on many factors, including property size, type and location. However, in most cases, the acquiring authority will reimburse the costs of independently valuing the property.
Compensation for compulsory land acquisition is usually exempt from capital gains tax if your property is your primary place of residence. However, there are times when the payment for mandatory land acquisition is taxable. Visit the ATO website for detailed compulsory acquisition tax requirements.
Yes. The acquiring authority will determine the amount of compensation and predetermined property value. However, individuals are entitled to procure an independent property valuer, such as Vanguard Valuations, to assist them with the compulsory acquisition process.
