The Valuer General values land in New South Wales under the Valuation of Land Act 1916.
The Valuer General is responsible for determining the land value for the whole site of a strata scheme.
The valuation will take into consideration the most valuable possible use for the whole site. This may exceed the current level of development on the site.
The land values for strata schemes are supplied to councils for rating and to the Office of State Revenue (OSR) for managing land tax.
The land value for individual strata units for council rating and land tax purposes is calculated using the land value for the whole site of the strata scheme and apportioned based on the unit entitlement listed in the strata plan.
The allocation of unit entitlements in a strata scheme is not considered by the Valuer General.
NSW Fair Trading can assist unit owners with concerns relating to unit entitlement at www.fairtrading.nsw.gov.au or by phoning 13 32 20.
Rating
The Valuer General issues the secretary of the strata plan or the owners corporation with a Notice of Valuation showing the land value for the whole site of a strata scheme that will be used for rating purposes.
The issue of a Notice of Valuation will coincide with the supply of new land values to council. This occurs every three to four years depending on the council’s rating cycle.
To find out how your council uses land values to calculate rates contact your council.
Land tax
The OSR issues land tax assessments annually to registered land tax liable unit owners.
The OSR can be contacted at www.osr.nsw.gov.au or phone 1300 139 816 (within NSW) or 02 9689 6200 (interstate).
Accessing land values
Land value search
Strata owners can access the land value for the site of their strata scheme and the apportioned value for their lot based on unit entitlement.
The land value search is free of charge for landowners for the valuing years 2009, 2010 and 2011. For information and access go to the Land Value Search page.
Other online land value searches may incur a fee. All land value searches through a Land and Property Information valuation office incur fees.
Accessing property sales information
A free valuation sales report that lists property sales that were considered when determining land values in your area is available. For strata properties, the sales considered are in relation to the land value for the whole site of a strata scheme and not sales for individual strata units.
For more information and access to a free valuation sales report see our Property sales information page or phone 1800 110 038.
Review
Part 3 of the Valuation of Land Act 1916 provides for an objection process for the review of land values. Find out more about the objection process on our Valuation objection page or by phoning 1800 110 038.
