What are Adjustment Factors
The Valuation of Land Act 2001 provides that rating and taxing authorities are to be provided with market-based Adjustment Factors for property valuations in the years between fresh valuations.
Adjustment Factors are used to adjust the value of properties in a locality and class. The factors are based on broad market movements and in times of buoyant real estate conditions the factor generally increases. Likewise, in the event of declining property values, the factors generally decrease.
Statutory valuations are used as a basis for apportioning rates and taxes. Each year local governments and the State Revenue Office apply the relevant Adjustment Factor to the statutory valuation for your property to arrive at a figure which is reflective of the current property market. Rates and taxes are applied by the relevant authorities based on this calculated figure.
An Adjustment Factor is not a valuation and your statutory valuation is not affected by the Adjustment Factors.
Adjustment Factors are not applied on an individual property basis.
The Valuer-General publishes Adjustment Factors, localities and classes in the Government Gazette and provides notification in local newspapers in March of each year.
Who determines Adjustment Factors
Adjustment Factors are determined by the Valuer-General.
When are Adjustment Factors determined
The Adjustment Factors are determined in March
- annually for land value, and
- every 2 years for capital value and assessed annual value.
There is no Adjustment Factor determined for local government areas undergoing a fresh valuation because the valuation itself resets the values in a locality and class of properties across the local government area.
What properties are affected by Adjustment Factors
Adjustment Factors are applied to a defined class of properties in a selected area. This could be an entire local government area, a locality, or group of localities. They are not applied on an individual property basis.
Calculation of Adjustment Factors
Property sales information, current rental data and a range of relevant market evidence are used to determine the levels of value of each class of properties within a selected area.
Property classes
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Residential properties that are able to be occupied by people on a temporary or permanent basis for residential purposes.
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Commercial properties involved in the trading of goods, services, information or money.
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Industrial properties where the predominant use is in the production and/or storage of goods.
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Primary Production properties include those carrying on of 1 or more of the following activities in a business-like manner, substantially on the land, with a reasonable expectation of profit
(a) cultivating land to sell the produce of the cultivation
(b) maintaining animals or poultry for sale or selling their natural increase or bodily produce
(c) keeping bees to sell the honey
(d) commercial fishing and cultivating aquatic plants or animals, including the preparation for fishing and the storage and preservation of fish and fishing gear
(e) cultivating or propagating for sale plants, seedlings, mushrooms or orchids.
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Community Services include specialised properties used for the provision of services to the community by Tasmanian Government or local government, community or religious organisations. These services include police, fire, hospitals, schools, libraries, museums, churches, halls, and some sporting facilities.
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Other properties with limited use due to planning, location constraints or activities conducted on the land.
Current and previous Adjustment Factors
OVG Adjustment Factors 2025 (87Kb)
OVG Adjustment Factors 2024 (105Kb)
OVG Adjustment Factors 2023 (308Kb)
OVG Adjustment Factors 2022 (139Kb)
OVG Adjustment Factors 2021 (274Kb)
OVG Adjustment Factors 2020 (213Kb)
OVG Adjustment Factors 2019 West Tamar (118Kb)
OVG Adjustment Factors 2019 (486Kb)
OVG Adjustment Factors 2018 (347Kb)
OVG Adjustment Factors 2017 (366Kb)
OVG Adjustment Factors 2016 (334Kb)
OVG Adjustment Factors 2015 (119Kb)
OVG Adjustment Factors 2014 (486Kb)
OVG Adjustment Factors 2013 (347Kb)
Can Adjustment Factors be Reviewed?
There is a formal process under the Valuation of Land Act 2001 for the Valuer-General to review an Adjustment Factor.
It is important to keep in mind that an Adjustment Factor is
not a valuation. It adjusts the levels of value of
all properties in a locality and class.
A review of an Adjustment Factor cannot be done for an individual property. The request for review can only be on the basis of how the factor was applied. For example, if the factor was applied to an entire local government area then the review must relate to the entire local government area.
An application for review must be in writing and must be accompanied by a statement of the grounds for the review and relevant supporting evidence. It needs to be lodged with the Valuer-General within 60 days of the notice appearing in the Government Gazette.
The Valuer-General will consider the application and advise you in writing of the outcome.
Adjustment Factor Brochure (274Kb)