If you disagree with your tax, rating, council or statutory valuation object now, you only have 60 days from the date of receiving your valuation/council rates notice to object.
At no cost to you, we will;
– Review your Valuer-General valuation rating assessment (council/statutory valuation)
– Advise you if you have a reasonable basis for objecting to that valuation (rating assessment)
You can object to your rating and land tax valuation on the basis that;
– Your assessed value is not representative of market – (i.e. your property has been over-valued)
– Your assessed value is inequitable – (i.e. your property is over-valued when compared to your neighbour’s or similar properties)
– Your assessed value is unfair – (in some States assessed values may be reduced on the basis the assessments are unduly burdensome. For example, market gardens in residential zoned locations may be able to apply for notional values to be applied thus reducing the rate burden)
If you wish to proceed to objection after this initial free consultation, we can;
– Formalise an accurate property value
– Provide relevant sales evidence which supports your objection
– Provide narrative on how the sales evidence relates to your estimate of value
– Complete and lodge your objection on your behalf
If you are still not pleased with the Valuer-General’s review of your objection, then we can assist you to undertake the further review options afforded by each State.
The Valuer-General places the emphasis on you to prove them wrong and they are betting you;
– Will try to do the objection yourself
– Have less market evidence than they do,
– Little knowledge of the valuation process, and
– Find getting independent advice cost prohibitive
The Valuer-General will not reimburse your expenses if you prove them wrong, so they hope this will discourage you from seeking independent advice.
That is why Liquid Property has sought to streamline the objection process for you to make it affordable.
Remember, in some States, your assessed values do not have to be greater than market estimates to be contestable; they can be under the market value but inequitable when compared to similar properties, and thus contestable.
As industry accredited and licensed property valuers; Liquid Property can object to your statutory rating valuation on your behalf.
A number of government and associated entities use the Valuer-General’s assessed property values (sometimes referred to as Council Valuations) to calculate and charge taxes, rates and levies.
Valuations are either undertaken by Government internally or by contracted valuation firms. Valuations are usually lagged (i.e. WA uses valuations that are a year old) which helps reduce objections to valuations.
Valuer-Generals rating (Council) valuations are predominantly undertaken on what is known as a mass appraisal basis and often computer generated using mathematical algorithms (i.e. regression analysis). Rarely, do valuers actually visit properties to assess values and if they do, it is a kerbside inspection at best.
In some States, commercial tenants can object to the rating valuation on the property they lease because they indirectly pay the rates through their landlord.
In some States you can apply for notional values to be applied if the rate burden is too high.
Each State and Territory utilises the Valuer-General within that jurisdiction to assess valuations for rating purposes. These assessments are sold to councils, water authorities and state revenue departments to enable Government to calculate the amount they will charge you the homeowner or business owner (or tenant) for future services.
In many instances the Valuer-General outsources the valuation work to private entities to conduct on a periodic basis (anywhere between one year to five years).
When you are issued with your new rates notices by council or any other authority, you generally have a specified time in which you can object to the valuation assessment which has been made against you property.
Valuation assessments may take a number of forms;
1. Capital Value – The sum of the land value and the added value of any improvements to the site (excluding plant and equipment)
2. Site Value – The unimproved value of the land (also referred to as ‘land value’ or ‘unimproved value’)
3. Annual Value – The estimated yearly rental value of your property (net of GST, tax and rates).
4. Gross Rental value – The estimated yearly rental value of your property including rates, taxes, insurance and other outgoings.
This state utilises the ‘capital value’ of your property as the basis for assessing council rates, water and other charges and levies.
Values are set at 1 January in the year that your assessment becomes active, being 1 July of the same year
If you disagree with the statutory valuation of your property you must submit a written objection within 60 days of receiving your first rates notice for the financial year from your local council, SA Water or Revenue SA.
This state will only vary your assessed value if the review by the Valuer-General indicates they have made an error of judgement by plus or minus 10%.
If after the Valuer-Generals review process, you are still not pleased with the outcome, you have a the option to request an independent review
* In this State, because Commercial Tenants pay the landlord’s rates, they can object to the Valuer-General’s valuation (for more detail refer below)
New South Wales
This state utilises the ‘land value’ (site value) as the basis for assessing council rates, water and other charges and levies. The valuer-General describes this as being the market value of the land only, as if it had sold on 1 July in the valuing year.
Land is defined by this State for rating purposes as not including:
• your home or other structures
• encumbrances like easements, rights of way, caveats and title covenants.
But does include:
• improvements to the land like draining, excavating, filling and clearing
• the physical effect of work within an easement, such as piping or transmission lines.
If you disagree with the statutory valuation of your property you have 60 days to lodge an objection. The last date to do this 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 notice.
It is important to object as soon as you get your rating values as these are then used to calculate your council rates for the next three years Rating assessments for Land tax are issued every year.
For all non-rural land, including land zoned rural-residential, this state utilises the site value (land value) as the basis for assessing council rates, water and other charges and levies.
If your valuation notice shows a new site valuation, the land was valued as non-rural land.
Site value reflects what the land would be expected to sell for in its current condition. It includes any work undertaken, or materials used, to improve the physical nature of the land to prepare it for development.
Units in community title schemes are not valued separately—a single valuation (for the land) is issued to the body corporate. The valuation amount for each unit owner is apportioned by the local council for rating and the Office of State Revenue for land tax (if applicable).
Land that is zoned rural under a state or local government planning scheme is valued using the unimproved value methodology. If your valuation notice shows a new unimproved valuation, the land was valued as rural land.
Unimproved value reflects the value of the land in its natural, undisturbed condition. It is the amount for which rural land could be expected to sell for without physical improvements such as houses, fences, clearing, levelling and earthworks. The unimproved valuation methodology does not take into account the existence of any agreements for leases, development approvals or infrastructure credits and their added value.
The Valuer-General issues annual valuations as well as maintenance valuations.
Annual valuations are as at 1 October in the year before they are issued (generally before 31 March each year). Landowners may receive up to 3 different types of annual valuation notice:
• Annual land valuation notice (blue): The new valuation amount on this notice will be used as a basis to calculate local government rates and state land tax (if applicable). If the valuation includes more than one parcel of land, the valuation amount is the total value of all parcels of land combined, including state leasehold and freehold parcels (if applicable).
• Freehold land valuation notice (brown): This notice is issued if the landowner has both freehold and leasehold land. However, the notice will only advise the valuation of the freehold land. The new valuation on this notice is used by the Office of State Revenue for levying state land tax, if applicable.
• State land rental valuation notice (green): This notice relates only to parcels of land that are subject to a lease, licence or permit to occupy under the Land Act 1994. The valuation reflects the state of the land at the commencement of the lease. This valuation is used to calculate state land rentals.
To continue your research go to https://www.qld.gov.au/environment/land/title/valuation
This state utilises the Gross Annual Value as the basis for assessing council rates, water and other charges and levies. The Valuer-General describes Gross Annual Value as representing the gross annual rental that a property might reasonably be expected to earn annually if it were rented, including rates, taxes, insurance and other outgoings. For non-residential properties, GST is also included.
The WA Valuer-General also undertakes valuations to determine an Unimproved Value, or UV, which is the value of land component of a property. It does not include the value of your home, other structures or improvements. For land within the metropolitan area and within regional townsites the UV does include merged improvements such as drainage, levelling and filling.
The Unimproved Value of your property is provided to the Office of State Revenue annually who the utilise this value to determine land tax. UVs are also used by some local councils for rating purposes.
The date of valuation is at 1 August in the year proceeding its implementation (1 July the following year).
The is State’s Valuer-General conducts Gross Rental Values (GRVs) on a 3 year basis for the metropolitan area and 3 to 6 years for regional areas, depending on the local government.
To lodge an objection you must do so within 60 days of the date of issue of your council rates, water rates or land tax notice.
The Valuer-General Victoria is now the sole valuation authority to conduct annual valuations of all land in Victoria for rating and taxing purposes. Transitional arrangements allow councils to opt out of the centralised arrangements until 2022. From 2019, valuations will be conducted annually and the Valuer-General will be the sole valuation authority.
The Valuer-General assesses rating values annually as at 1 January for implementation as at I July in the same year.