The Notice of Valuation is used to inform property owners and lessees of changes to property valuation details.
Property owners will be issued a new Notice of Valuation each time a major change occurs which effects the valuation.
The values shown on a Notice of Valuation may be used for rating and taxing purposes and are subject to Adjustment Factors which reflect market movements in values.
For
more information please see
Owner's Guide - Fresh Valuations (2Mb)
Terms used on the Notice of Valuation
Land value is the value of the property including- draining
- excavation
- filling
- reclamation
- clearing, and
- any other invisible improvements made to the land.
It excludes all visible improvements including
- buildings
- structures
- fixtures
- roads
- standings
- dams
- channels
- artificially established trees and pastures, and
- other similar improvements.
Capital value is the total value of the property (including the land value), excluding plant and machinery.
Assessed annual value is the gross annual rental value of the property excluding GST, local government rates and land tax, but cannot be less than 4% of the capital value.
Objecting to a valuation
If you disagree with a valuation, you can lodge an objection with the Valuer-General within 60 days from receipt of the Notice of Valuation.
Incorrect details on a Notice of Valuation
If
any of the details shown on your Notice of Valuation are incorrect, please
contact us.