NSW Valuer General
What is the Valuer General
Learn more about the role of the NSW Valuer General in maintaining fair and consistent land values. Appointed by the Governor of NSW and supported by Valuation NSW, the Valuer General assists councils and the state government in determining land rates and taxes. The Valuer General also plays a vital role in ensuring fair compensation for landowners during compulsory acquisitions for new housing or infrastructure.
How is my land value calculated?
Ever wondered how your land value is calculated? Expert accredited property valuers determine your land value by analysing recent property sales and various land characteristics, such as its use, location, size, shape, views, zoning, and the surrounding neighbourhood. Most land values are calculated using a mass valuation system.
How does the mass valuation system work?
Discover how land values are determined in NSW using the mass valuation system. Similar properties, grouped by characteristics such as location, size, and amenity, form components. A broad range of sales data is analysed in each component and inspections of some of the properties are undertaken. A benchmark property in each component is selected for valuation and guides changes applied to all properties. The percentage change in the benchmark property's value is used to calculate new land values. Valuation NSW ensures accuracy and consistency through quality assurance.
How does my land value affect my land tax?
Every year the Valuer General sends land values to Revenue NSW to help them calculate land tax. The taxable value of land is determined from the average value of the land from the current year and the previous 2 years where applicable. When a parcel of land is less than 3 years old (subdivision) Revenue NSW only considers the years after it was created. If you are liable for land tax you'll receive an annual assessment notice from Revenue NSW which shows your land value and how much land tax you must pay. Land owners can request an independent review of their land value by lodging an objection within 60 days from the date of issue of their notice.
How does my land value affect my council rates?
The Valuer General provides land values to councils in NSW at least once every 3 years. These values are used by each council to determine council rates - the Valuer General does not set rates for councils. A council can choose the combination of rates, charges, fees and pricing appropriate for their area and community. If your land value increases it doesn't necessarily mean your rates will rise.