Land valuations 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 2016. Importantly, land valuations don't include the value of the house or any improvements on the property.
Every three years, land holders are provided a new land value evaluation to tell them what their new value of their land is. The Valuer General will be sending a revaluation in early 2020, effective 1 July 2020.
If you disagree with the valuation you can request a review by the Valuer General within 60 days.
How does land valuation affect your rates?
The value of your land is a critical element in the calculation of your annual Council rates, which consist of both a fixed amount paid by all ratepayers within a rating category, plus a cents in the dollar amount for each dollar of land value as per your valuation. So 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 city.