The NSW Valuer General provides independent land valuations at least every 3 years. Local councils use these valuations to help determine rates.
Land value is based on factors such as recent sales, land use, zoning restrictions and nearby amenities. This is known as your unimproved capital land value. (It does not include the value of a house or property improvements.)
The Valuer General sends landholders a Notice of Valuation when council receives new land values.
For more about land tax see Revenue NSW
How does land valuation affect my rates?
Only the General Rate of your rates notice is linked to your land valuation. This is known as the Ad Valorem component and it includes the minimum rate.
An increase in your land valuation does not necessarily mean an increase in your rates.
The impact of any land-valuation increase depends on how the increase compares with the average land valuation in the Tweed within your rating category (that is residential, farmland or business).
If your land valuation increase is lower than the average, you are likely to see a reduction in your rates.
If your valuation increase is higher than the average, you are likely to see a rise in your rates.
Head to rates explained to find out more about how rates are calculated.
Does Council collect more money when land valuations increase?
No. When land valuations increase, Council does not receive additional money.
The total rates revenue Council receives after revaluation is the same as the total rates revenue Council received before revaluation.
What changes is how the total rates revenue is shared across ratepayers.
The diagram below highlights the average residential property increase for the general rates component.
Use our General Rate calculator to see the effect of the latest land valuation.
How do I have my land valuation reviewed?
Land holders who disagree with their land valuation can lodge an objection directly with the Valuer General within 60 days. (You must still pay your rates while your objection is being considered.)