The Valuer-General issued Valuation Notices recently to
landowners across the state. The valuations are used by:
- local governments as a basis for levying rates;
- the Office of State Revenue as a basis for levying land tax
where appropriate on freehold land; and
- DERM for calculating State land lease rent.
Landowners have until 4 July 2011 to lodge an
objection to the valuation.
These are the first valuations for non-rural land to be assessed
on site value rather than unimproved value and this year is the
only time that landowners can claim either:
- an offset for increases over $1,000,000; or
- deductions for site improvements made in the last 12
years.
These must be claimed by way of an objection to the
valuation.
