Land valuations assigned for rating purposes are determined by the NSW Valuer General based on recent sales evidence, and things like size, shape, aspect, land use, zoning restriction and nearby amenities.
Land valuations are determined on a three year cycle, with the most recent valuation occurring in 2019. Importantly, land valuations don't include the value of the house or any improvements on the property.
Every three years, landholders are provided a new land value evaluation to tell them what their new value of their land is. The notice gives landholders the opportunity to consider their land value before council uses the value for rating. If you disagree with the valuation you can request a review by the Valuer General within 60 days.
Click here to download the Valuer General fact sheet.
How land valuations affects your rates
Only part of your land valuation is linked to your rates. This is the Ad Velorem component, the other component is the Base Amount, which is a flat charge that all ratepayers pay.
Therefore, an increase in land value does not necessarily mean an increase in rates. However, some people may pay more or less depending on the changing value of their land, relative to changes in land value across the shire.