A plain English explanation of this ACT planning and property term.
A Lease Variation Charge (LVC) is a charge payable to the ACT Government when a variation to a Crown lease is approved that increases the development rights or permitted use of the land. The charge is intended to capture part of the increase in the lease's value resulting from the approved variation and return that value to the ACT community.
A Lease Variation Charge (LVC) is a fee you may need to pay when you change your Crown lease in a way that allows more development or a different use of the land. The fee reflects the increase in the property's value created by the approved change.