Community Title Scheme
Parity factor
Brisbane City Council has introduced a parity factor for Community Titles Scheme (CTS) properties.
The calculation of the parity factor is based on the total unimproved land value of the CTS property, which is used to apply a loading to the general rates component of the bill.
Calculating the parity factor
The parity factor is based on the ratio of individual unit value to total land value.
The parity factor = (Total calculation of Bands A - D + Unit Rateable Value) ÷ Unit Rateable Value
| Band | Total land value (rateable) | Multiplied by rate factor |
|---|---|---|
| A | For each dollar of rateable value of the land upon which a community titles scheme is constructed up to and including $2,250,000 | 0.0000 |
| B | For each dollar of rateable value of the land upon which a community titles scheme is constructed from $2,250,001 up to and including $6,000,000 | 0.00760 |
| C | For each dollar of rateable value of the land upon which a community titles scheme is constructed from $6,000,001 up to and including $10,000,000 | 0.00970 |
| D | For each dollar of rateable value of the land upon which a community titles scheme is constructed in excess of $10,000,000 | 0.00225 |
Where the parity factor calculated exceeds five, the parity factor is deemed five.
The calculation table is also located on page 265 of the budget.
Example
An example of a parity factor calculation:
Parent ARV = $20,000,000
Unit ARV = $200,000
| Band | Total land value (rateable) | Multiplied by rate factor | Equals |
|---|---|---|---|
| A | Up to $2,250,000 | 0.0000 | 0 |
| B | $2,250,001 to $6,000,000 | 0.00760 | $28,500 |
| C | $6,000,001 to $10,000,000 | 0.00970 | $38,800 |
| D | Balance of $10,000,000 | 0.00225 | $22,500 |
| Total of Bands A - D | $89,800 | ||
The parity factor for this example is $89,800 plus the unit value of $200,000, divided by the unit value of $200,000 equals 1.4490.
More information
To find out more about Community Titles Scheme rating you can:
- contact Council
- download the fact sheet:
Introducing the Parity Factor to Community Title Scheme properties (PDF - 255kb)
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