Parkes Shire Council is encouraging residents to review their new property valuations which were issued to landholders in the Parkes Shire area in January.

The valuations refer to the land value only on an unimproved capital value basis and exclude the value of the homes and other improvements.

The Valuer General issues land valuations every three years to councils, which are then used for calculating and distributing rates for the subsequent three-year period.  These values will be used for next year’s rates levy.

Parkes Shire Council's Director Corporate Services, Les Finn reminded residents that an increase in valuation does not always equate to an increase in rates.

"Council's annual rating amount is effectively pegged by the State Government, so the total rate income collection, the amount from all ratepayers, is capped. For the 2020/21 year that cap has been set at 2.6% on top of the previous year’s total rate levy for the General fund - noting that the cap does not apply to water and sewer charges."

“In the first year in which new valuations are used for rates, there may be some fluctuations in the amount of rates you pay, depending on how your valuation has changed in comparison to other properties within the same category in our Local Government Area. If your property has increased by a greater percentage than other properties, your rate increase will be greater. If your value has increased by lower than the average increase of other properties, your rates increase may be less significant or your rates can even reduce from the previous year”, Mr Finn said.

The Valuer General furnished a report relating to the valuations that indicated there were upward movements in the Parkes Shire valuations in all categories in spite of the prevailing drought conditions in the period under review.

“It is for this reason that Council urges property owners to examine their valuation notices and if they think it is an unusually high increase, to contact the Valuer General’s Office before the closing date for submissions in late May”.

Details on how to make a submission and the due date can be found on the Valuer’s notice. You can also find out more about the valuation process on the Valuer’s website, www.valuergeneral.nsw.gov.au.

“Property owners wishing to discuss their valuations must do so with the Valuer’s Office. Council is unable to assist with enquiries about the valuations placed upon the land and the process of having a review conducted,” Mr Finn concluded.

FAST FACTS from the Valuers Report:

  • 8,204 properties were valued at the base date of 1 July 2019 and valuations are reflective of the property market at that time.
  • Previous Notices of Valuation were issued to owners for the base date of 1 July 2016. Since that date, land values in the Parkes Shire overall have shown a strong increase of 14.9% between the 2018 and 2019 base years.
  • Land values in the Parkes Shire are dominated by rural lands (68% of the Shire total) where a 16.2% increase was recorded. Increases in residential lands of 10.7%, in commercial land values of 19.8%, in industrial land values of 24.8% and in special use land values of 24.8% were also notable contributors to the overall result.