237H Valuation

(1)

If the territorial authority or Crown, as the case may be, and the registered owner cannot agree as to the amount of compensation, including any additional survey costs, payable under section 237E, section 237F, or section 237G, the amount shall be determined by a registered valuer agreed on by the parties (or, failing agreement, nominated by the President of the New Zealand Institute of Valuers), who shall provide a copy of the determination to all parties.

(2)

The territorial authority or Crown, as the case may be, or the registered owner who is dissatisfied with the determination under subsection (1) may, within 20 working days after service of the determination, object to the determination to the registered valuer in writing, stating the grounds of objection.

(3)

Sections 34, 35, 36, and 38 of the Rating Valuations Act 1998 (and any regulations made under that Act relating to reviews and objections), as far as they are applicable and with all necessary modifications, are to apply to the objection as if—

(a)

the registered valuer had been appointed by a territorial authority to review the objection; and

(b)

the review had been made under section 34 of that Act; and

(c)

the references to a territorial authority in sections 34(4), 35, and 36 of that Act were references to the registered valuer.

(4)

For the purposes of this section and of sections 237E to 237G, the amount of compensation shall be equal to—

(a)

in the case of an esplanade reserve, the value of the land set aside:

(b)

in the case of an esplanade strip, the value of the interest in land created—

and any additional survey costs incurred by reason of the esplanade reserve or esplanade strip, as the case may be, as at the date of the deposit of the survey plan.

Section 237H: inserted, on 7 July 1993, by section 124 of the Resource Management Amendment Act 1993 (1993 No 65).

Section 237H(1): amended, on 12 November 2018, by section 250 of the Land Transfer Act 2017 (2017 No 30).

Section 237H(1): amended, on 1 July 1998, by section 54(1) of the Rating Valuations Act 1998 (1998 No 69).

Section 237H(2): replaced, on 1 July 1998, by section 54(1) of the Rating Valuations Act 1998 (1998 No 69).

Section 237H(2): amended, on 12 November 2018, by section 250 of the Land Transfer Act 2017 (2017 No 30).

Section 237H(3): replaced, on 1 July 1998, by section 54(1) of the Rating Valuations Act 1998 (1998 No 69).