Is Your Land Valuation Correct?

janinerSun, 21/06/2020 - 7:45pm

Valuer General Land Valuations

Most landowners at North Arm Cove would have received their July 2019 land valuations in the last two months. If you disagree with the valuation you have 60 days to lodge an objection. The last date to object is written at the bottom of the Notice of Valuation.

These valuations are based on local sales figures and are used to determine rates and land tax.

If you think that your valuation is incorrect, lodging an objection online is easy. The land valuations and property sales figures for all of NSW are all available at https://www.valuergeneral.nsw.gov.au/. There is even an interactive spacial portal with the valuation for each property. But time is running out.

I believe that nearly all the waterfront properties adjacent to tidal mudflats are overvalued. Due to efficiency and cost issues, the Valuer General uses a mass aggregation technique where similar properties are grouped together. However, sometimes the finer distinctions which can have a large impact on price are ignored. For example, all waterfronts are probably lumped together regardless of whether they have deep water access, sandy beaches, mudflats or offshore oyster leases. Similarly local drainage issues are often ignored.

I would encourage all landowners that are adjacent to the oyster leases to lodge objections. I have just lodged our objection. If the objection is successful, it does not trigger a reassessment of any other property. We must all lodge our own objections.

 

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