Statutory Valuations - Fresh Valuations and Supplementary Valuations

​​​​​​The Valuer-General is required to assess statutory values of all properties in Tasmania, including Crown land that is liable for rating. The assessed values are land value, capital value and assessed annual value.  

Fresh valuations in a local government area are undertaken every 6 years, with supplementary valuations occurring whenever there is a major change to a property.

The values and other specific information are maintained in a Valuation Roll for each local government area.

Key terms​

• 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, such as buildings, structures, fixtures, roads, standings, dams, channels, artificially established trees and pastures and other like improvements.
• Capital Value is the total value of the property, including the land value and visible improvements, excluding plant and machinery.
• Assessed Annual Value is the gross annual rental value of the property excluding GST, local government rates, land tax and fixed water and sewerage changes, and cannot be less than 4% of the capital value. 
• Levels of Value is 1 July in the year of the valuation, and all properties in a local government area are valued at the same date.
• Notice of Valuation - these issued the following May and valuations become effective for rating and taxing purposes from the 1 July following issue of the valuations eg if the Levels of Value is 1 July 2024, the Notices of Valuation w ill be issued in May 2025 and the effective date for rates and taxes is 1 July 2024.
• Objection - owners can object to valuations, see the Objecting to a Statutory Valuation page.
  
• Contract Valuers are sometimes used to value the properties, and the quality assurance and oversight of these contractors is the responsibility of the Office of the Valuer-General.
  

Fresh V​aluation program

Properties are valued every six years, with a third of local government areas receiving fresh valuations every two years. For rating and taxing purposes valuations are effective from 1 July in the year of issue. 

​ Statutory Valuations by local government area (PDF 2Mb)

Supplementary Valuations

The Valuer-General issues Supplementary Valuations whenever a major change occurs on a property - for example a new shed is built, an extension is added, or the land size changes. 

Most Supplementary Valuations are requested by local government authorities following lodgement of a development application.

The valuations assessed by the va​luer are based on the Level of Values Date for the local government area.  This means that the valuer determines what the value would have been if the change was in place on the Levels of Value Date. This approach provides a consistent basis for rates and taxes across a local government area.

Notices of Valuation are issued following the Supplementary Valuation.​