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Types of valuation
The majority of valuations undertaken by the Land and Property Management Authority are made under the Valuation of Land Act 1916 and are used for rating and taxing. The valuations are the determination of the land value only and are made as at 1 July in the year of valuation.
General valuations
General valuations provide new land values for all properties in a local government area. They are provided to:
- the Office of State Revenue (OSR) annually to determine a landowner's land tax liability
- local councils every three to four years, to be used as one factor in the determination of rates. To find out when land will next be revalued for rating purposes in your council area click here (PDF 27.4 kb).
- landowners via their Notice of Valuation, which is issued when their local government area is revalued for rating purposes. For more information please refer to the Fact Sheet Information about your Notice of Valuation (PDF 706 kb) or T: 1800 110 038 or for international callers +61 2 6332 8188.
The Office of State Revenue (OSR) manages land tax. Your home (principal place of residence) or land used for primary production is generally exempt from land tax. You may be liable for land tax if you own other land in New South Wales (investment property, business premise or holiday home). All land owners who may be liable for land tax must register with the OSR before 31 March 2009.
For further information on land tax please contact OSR on T: 1300 139 816 or at Office of State Revenue website www.osr.nsw.gov.au
Supplementary valuations
Supplementary valuations are new land values determined outside the general valuation process. This may occur due to new subdivisions, changes in zoning or a change in land area. The data is supplied to local councils and the OSR on a monthly basis to ensure rating and land tax assessment bases are current.
Compensation and special valuations
In March 2007 Valuation Services was established to offer a comprehensive valuation service to state and local government agencies. It aims to deliver the highest professional quality in valuation reporting and consultancy, built on the qualities of independence and accuracy demanded in assignments delegated by the Valuer General. Valuation Services builds on the wealth of experience gained from the former State Valuation Office and Property Valuation Services.
Valuation Services provides these services on a full commercial fee for service basis, with no subsidisation from government grants.
Compensation
Determinations of compensation are carried out under delegation from the Valuer General. Valuation Services determine the compensation payable to former owners of lands compulsorily acquired by government authorities in accordance with the Land Acquisition (Just Terms Compensation) Act 1991. Determinations are also made in accordance with Treasurers Directions in cases of transfer of land between government agencies.
In order to protect the independence of the Valuer General, Valuation Services only provide pre-acquisition advice in specific circumstances. Valuation Services provide joint advice on pre-acquisition matters, subject to the written agreement of each party to carrying out the valuation. This agreement will not bind either party to accept the valuation nor will it bind the Valuer General to ultimately issue a Determination of Compensation at the amount of the valuation. Valuation Services do not participate in negotiations for an acquisition other than to explain its valuation.
Special valuations
Valuation Services also offers a wide range of specialist property valuation and consultancy services to state and local government agencies. Examples are asset valuations for financial and management purposes, and property advice on sale, purchase, lease, and insurance.
Crown land
Valuation Services is undertaking projects for the Crown Lands Office for the valuation of the Crown Land Entity (occupied lands) and to bring to account valuations of Crown Reserves and other parcels identified through the Crown Lands Conversion Project.
Enquiries
Enquiries regarding compensation and special valuation services may be made by E: valuationenquiry@lpma.nsw.gov.au
