News Articles

20/02/2009 - Tyrone Hodge

Valuation notices from the Valuer Generals office have been issued in NSW over the past few weeks. These valuations are used to calculate council rates and land tax and in many cases the valuation may be excessive.

LandMark White has reviewed numerous VG Land Value Assessments in NSW and found a significant number are overvalued resulting in excessive Land Tax Assessments.
In the case of a property in Campbelltown, following objection the land value was reduced from $23 million to $10 million resulting in huge reductions in council rates and land tax. In some cases these savings are retrospective.

Aside from excessive valuations, property owners should be aware of section 14 G of the Valuation of Land Act which provides significant savings for Heritage Listed property.
Furthermore, section 14 L provides allowances for site works and section 14 S provides for a discount in one line for multiple holdings.

LandMark White is able (with the owner's consent) to make submissions directly to the Department of Lands and if necessary lodge appeals with the Land and Environment Court.
Remember time is running out you only have 60 days to lodge any objections!

If you wish to discuss a possible land value objection please call Phil Barlow on (02) 8823-6300