MORE than 10,000 properties have been revalued in the Armidale Dumaresq Council after a broad assessment, NSW Valuer General Philip Western said last week.
The total land value of the Armidale Dumaresq Council was approximately $2.02 billion as at 1 July 2013, up from $1.91 billion in 2010.
Mr Western said Notices of Valuation show the land value of a property based on property market conditions as at 1 July 2013.
Land value is the value of the land only and does not include the value of the home or other improvements on the land.
“Land values are one factor considered by councils when determining rates. The Notice of Valuation gives landholders the opportunity to consider their land value before it is used by council,” Mr Western said.
“Land values are fixed for rating until new values are issued to council, which usually occurs every three to four years.
“Landholders in Armidale Dumaresq LGA were previously issued with a Notice of Valuation showing their property’s land value as at 1 July 2010.”
Mr Western said changes in land values don’t necessarily lead to similar changes in rates.
“Each council develops a revenue policy to use in the calculation of rates and charges to fund services for the community,” he said.
To find out more about rating visit the Division of Local Government website www.dlg.nsw.gov.au
