Experienced valuers chosen for high country work
24 August 2005
Land Information New Zealand has chosen three valuers with a combined 120 years' worth of experience to review the valuation methodology used in Tenure Review and current pastoral lease rents.
Rodney Jefferies, Donn Armstrong and Bob Engelbrecht have been contracted to undertake these reviews, and are highly respected in the valuation industry says Kevin Kelly, LINZ General Manager, Policy.
"The three valuers we have chosen give LINZ the expertise needed for the work we have been asked to do."
LINZ has been directed to report on the valuation methodology used in valuing lessor and lessee interests in Tenure Review and on the implications of introducing market rentals for pastoral leases when rents are reviewed (every 11 years). The work relates to the Government's 10 high country objectives.
LINZ is aiming to complete both research projects by October 2005. The work will involve interviews with a range of lessees, their representatives, government officials, non-government organisations and valuation professionals.
"We intend to make the report available to lessees and other interested parties for comment before it is finalised," says Kevin Kelly.
LINZ runs the Tenure Review process. Farmers enter the process to gain freehold ownership of some of their South Island high country pastoral leasehold land. The balance of land is restored to full Crown ownership.
Tenure Review involves an exchange of payments, based on market valuation of the land exclusive of improvements.
For further information please contact:
Kevin Kelly
Land Information New Zealand
Private Box 5501
WELLINGTON
PH: 04 498 3500
FAX: 04 498 3519
CELL: 027 536 9497
EMAIL: kkelly@linz.govt.nz
LINZ media liaison:
Michael Mead
Senior Communications Adviser
Land Information New Zealand
Private Box 5501
WELLINGTON
PH: 04 498 3516
FAX: 04 472 1864
EMAIL: mmead@linz.govt.nz
More information
More information on LINZ's Tenure Review programme and the work LINZ is carrying out for Cabinet is available on the LINZ website on the Crown Property/High Country Leases page.
