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Frequent valuation questions
I/we have just received a Notice of Valuation. Is this an account I have to pay?
No, this is a Notice of Valuation, advising you of the latest land value that will be used by your local council for rating purposes. The Notice of Valuation is issued free of charge.
Why did I/we receive a Notice of Valuation?
The Valuer General provides land values to councils for rating purposes at least every four years. Land owners and lessees are issued with a Notice of Valuation informing them of their propertys new land value. Notices of Valuation are issued each time a new valuation is made for council rating purposes.
What information is supplied by the Valuer General on the Notice of Valuation?
The Notice of Valuation provides the following information on the front of the form:
- Details of the owners and their postal address, the property address and property description details as recorded on the Register of Land Values
- The land value as at 1 July in the valuing year
- The date of the valuation
- The last date an objection can be lodged to the land value
and on the back of the form you will find:
- Contact details for valuation enquiries
- General information about the land value review process
- Details of interpreter services
What do I do when information on the Notice of Valuation is incorrect?
Contact the valuation call centre on T: 1800 110 038 or for international callers +61 2 6332 8188, or write to:
Valuation Objections - Customer Service
PO Box 745
BATHURST NSW 2795
You should:
- state the Valuation District and Property Number shown on the top of the Notice of Valuation, the Description of Land and the Valuing Year (or you may return a copy of the front of the Notice of Valuation)
- state the information that you believe to be incorrect (eg ownership, addresses, etc) and
- provide the correct information.
Why did my land value change?
In most instances it has been at least three years since the land was last valued for council rating purposes. New valuations are determined in accordance with the property market as existing at 1 July of the valuing year and reflect changes in the property market since the previous valuation.
What effect will the new valuation have on my council rates?
Land values are one factor used by councils in the calculation of a landowners rating liability. Increases in land values do not necessarily lead to similar increases in rates. If you would like more information on the determination of your rates you should contact your local council.
How is my land valued?
Most land is valued using the mass valuation approach, where properties are valued in groups called components. The properties in each component are similar or are expected to reflect changes in value in a similar way.
Representative properties are selected from components and individually valued each year to determine how much the land value has changed from the previous year. This change is then applied to all properties in the component to determine their new land values. Sample valuations are then checked to confirm the accuracy of the new values.
During the valuation process, valuers analyse sales of both vacant land and improved properties, making adjustments for the added value of improvements.
The value of improvements is their worth as reflected by the real estate market in an area. The value of improvements is generally not equal to their replacement or insurance value.
When will my land next be valued for council rating purposes?
Land vaues are issued to councils for rating at least every three to four years. If you would like to know when the next revaluation in your council area is due see here (PDF 27.4 kb).
What factors are considered when valuing land?
When comparing property sales to the land being valued, valuers consider factors such as:
- most valuable use for the land
- location of the land
- constraints on use such as zoning and heritage restrictions
- land size, shape and land features, such as slope and soil type
- nearby development and infrastructure
- views.
Concessions and/or allowances applying to your land under the Valuation of Land Act 1916 will be printed on your Notice of Valuation or land tax assessment.
Factors such as personal circumstances, council rates and land tax liability are not considered when determining land value.
Was my land inspected as part of the valuation?
Most land is valued using mass valuation where properties are valued in groups called components. Inspections of various sites are undertaken as part of the sales analysis and valuation program.
My property is of heritage significance, was this considered when valuing the property?
Heritage properties are recognised under two different Acts for rating and taxing purposes.
Heritage Act 1977
Properties listed on the State Heritage Register are valued under the provisions of section 124 and 125 of the Heritage Act 1977. The value is known as a heritage value and takes into consideration the impact of the heritage listing. The heritage value is used for rating and taxing purposes.
Valuation of Land Act 1916
The land value of properties that are heritage restricted by a planning instrument, such as a local or regional environmental plan is determined in accordance with section 14G of the Valuation of Land Act 1916. The heritage restriction is considered when determining the land value used for rating and taxing purposes.
The NSW Heritage Office holds the State Heritage Inventory which contains the State Heritage Register and details of heritage restricted properties.
Landowners may also apply to the Valuer General to make a determination as to whether a particular parcel of land is heritage restricted.
If your property has been determined 'heritage restricted' it will be noted on the bottom of your Notice of Valuation.
If your Notice of Valuation does not show that your property is of heritage significance and you believe it is, you may lodge an objection to the land value or put the details in writing so the matter can be considered. Alternatively you may wish to call the valuation call centre T:1800 110 038 or for international callers +61 2 6332 8188.
Have the various physical features of the land and its surrounding area been taken into account in my valuation?
Yes, valuations are determined by independent contract valuers expert in the local area.
What are the grounds for lodging an objection?
Grounds for objection can be found in section 34 of the Valuation of Land Act 1916. A brief summary follows:
- the values assigned are too high or too low
- the area, dimensions or description of the land are not correctly stated
- the interests held by various persons in the land have not been correctly apportioned
- the apportionment of the valuations is not correct
- lands which should be included in one valuation have been valued separately
- lands which should be valued separately have been included in one valuation
- the person named on the Notice of Valuation is not the lessee or owner of the land.
- concessions/allowances are incorrect.
You must clearly indicate on the valuation objection form the ground(s) on which your objection is based.
You must provide evidence to support your objection. Strong supporting evidence is sale prices of comparable properties.
Factors such as your personal circumstances, council rates or land tax liability are not considered during the objection review process.
How long do I have to lodge an objection?
Landowners have 60 days to lodge an objection.
The last date to object is printed on the front of your Notice of Valuation.
Land tax clients have 60 days from the issue date printed on their land tax assessment to lodge an objection.
The Valuer General has the discretion to accept objections beyond the 60 day time frame.
If you want to lodge an out of date objection you must provide full reasons why the objection is late. The Valuer General will then determine whether to accept the objection.
Does the Valuer General issue Notices of Valuation for annual land tax values?
No, landowners of land tax liable properties are notified of the land value on their Notice of Assessment issued by the Office of State Revenue.
Am I liable for land tax?
Contact the Office of State Revenue on T: 1300 139 816 (within NSW) or T: 02 9685 2155 or http://www.osr.nsw.gov.au/
