Assessing betterment under a public premium leasehold system: principles and practice in Canberra

Steven Bourassa, Max Neutze and Ann Louise Strong

Journal of Property Research, 1997, vol. 14, issue 1, 49-68

Abstract: This article sets forth principles for assessing betterment under a public premium leasehold system of land tenure. Canberra, Australia, is employed as a case study. Recovery of the betterment which results as the city grows has been an important objective of public land ownership in Canberra. Up-front premiums and betterment charges replaced land rents in 1970. Betterment charges are applicable when permission to change land use is granted and there is an increase in the value of the lease. Different definitions used over time have failed to measure betterment correctly. A correct definition is derived, and it is argued that a 100% charge should be levied to maintain the government's ownership of development rights. Such a charge would not stifle redevelopment but would remove the subsidy it currently receives.

Date: 1997
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DOI: 10.1080/095999197368753

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