5Fee for new valuation

5 Fee for new valuation

(1)  For the purposes of section 44(1) of the Act, the prescribed fee is the sum of –

(a) an amount determined at the rate of 125 fee units per hour for the time spent in any valuation work, excluding travelling time; and

(b) an amount determined at the rate of 85 fee units per hour for the time actually and reasonably spent in travelling for the purposes of the new valuation; and

(c) if the land valuer travelled by motor vehicle for the purposes of the new valuation, an amount determined at the rate of 0.6 fee units per kilometre or, if the land valuer travelled by any other means of transport, an amount that was actually and reasonably incurred in relation to that transport.

(2)  If the amount determined under subregulation (1) is less than the equivalent of 100 fee units, the prescribed fee is an amount equivalent to 100 fee units.