Inquiry into Hornsby ditch valuation lauched by Parliamentary Committee

AN inquiry into the valuation of Hornsby's $25 million ditch - which is costing ratepayers millions - has been launched.

THE State Government's Parliamentary Committee for the Office of the Valuer General has launched an inquiry into the valuation of Hornsby's $25 million ditch which is costing ratepayers millions.

The inquiry is part of an investigation of the NSW valuation system.

This comes just months ahead of the council's Supreme Court action against the Valuer General and CSR over the amount paid to acquire the quarry.

While visiting the site last week, Hornsby state Liberal MP Matt Kean - chairman of the committee - heard how the valuation had been based on 400 multi-unit dwellings being built.

But a 2004 Council study for the quarry showed, due to environmental constraints, a maximum of 225 units could be built.

A further review indicated the land value per unit at the site could only be half the Valuer General's estimate.

Mr Kean said much of the development would have occurred on fill, which means 20m pylons would be needed to build safely.

"We are going to fight it because we think the people of Hornsby have been ripped off by the Valuer General," he said.

"This has not only cost Hornsby ratepayers millions of dollars, but also additional legal fees and expert reports.

"It is time we applied the blowtorch to the Valuer General to ensure that what happened in Hornsby never happens again."