Hi has anyone received the latest tax bills, looks like the land value in 2021 has gone up as I would have thought it’s going down given the covid 19, do u experience similar up or it’s just me only?
Except property prices have gone up. Dec19 would be precovid post election boom. dec20 would be the recent boom. probably different if they valued it as at june.
The 3 year smoothing is still a limiting factor. And the raised (indexed) threshold. In the past three years the tax free threshold has risen 33.69%. I would compare that to the change in specific property values over the same period. ie 2017 to 2020. The property values used are set at 01 July 2020. Since July 2020 there appears to be signs of price rises across the state. Prices appear sustained through low supply volumes. In the heat of covid the market stalled if anything with open homes and the like problematic.
If you wish to dispute the land values used the the process is with the VG, not OSR and there is a time limit from the date the valuation was issued. It needs to be specific to the reasons why the valuation made (unimproved land) are excessive. Land is valued as batch and sometime a specific lot may have chareteristics that affect its value detrimentally (eg a big rock), narrow, expectional easements
