Land values are used by Councils to set rates and by the Office of State Revenue to calculate land tax. Your land is valued every three to four years by the NSW Valuer General using a mass valuation process. This groups properties that are expected to experience similar changes in value into a “component”. Representative benchmark properties are individually valued and a “component factor” developed and applied to determine new land values.
For more information or to dispute your land tax valuation, go here or call 1800 110 038.