Rates valuation gone down by over $200,00!

Discussion in 'Property Market Economics' started by Joynz, 13th Aug, 2019.

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  1. Joynz

    Joynz Well-Known Member

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    Just sharing that my rates valuation has dropped over $200,000 since the last valuation in 2018.

    It’s a freestanding house in Cheltenham, Melbourne. Was valued mid $900,000s last year...
     
    Joynz, 13th Aug, 2019
    #1
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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Is that a complaint or cause for celebration?
     
    Scott No Mates, 13th Aug, 2019
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  3. Joynz

    Joynz Well-Known Member

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    Neither, really. Just a fact...

    Thought it might be of interest given the recent ‘have we reached bottom’ threads.
     
    Joynz, 13th Aug, 2019
    #3
  4. samiam

    samiam Well-Known Member

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    Interesting indeed! The online valuations of all my properties in NSW have gone down by 15-20% as well (but not sure rate valuations would be, let’s wait n see)
     
    samiam, 13th Aug, 2019
    #4
  5. Lacrim

    Lacrim Well-Known Member

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    Definitely a mistake:rolleyes:
     
    Lacrim, 13th Aug, 2019
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  6. GoneFishing

    GoneFishing Well-Known Member

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    This is fantastic! I almost sold one of my IP's because my land tax bill last year was massive. I don't intend on selling so hoping prices keep spiralling downwards. Came down $300k for one of my IP's. Let's see what's in the letter box tonight for my others.
     
    GoneFishing, 14th Aug, 2019
    #6
  7. Mumbai

    Mumbai Well-Known Member

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    Happy to buy it off you to save any further headache ;)
     
    Mumbai, 14th Aug, 2019
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  8. Air_Bender

    Air_Bender Well-Known Member

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    Mine dropped as well....by $101

    :rolleyes:
     
    Air_Bender, 14th Aug, 2019
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  9. Joynz

    Joynz Well-Known Member

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    By $101.00? What area?
     
    Joynz, 14th Aug, 2019
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Nullarbor Heights. :confused:
     
    Scott No Mates, 14th Aug, 2019
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  11. Air_Bender

    Air_Bender Well-Known Member

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    Yep, literally just $101 less than last year's figure. Mill Park.
     
    Air_Bender, 14th Aug, 2019
    #11
  12. Joynz

    Joynz Well-Known Member

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    Freestanding house?
     
    Joynz, 14th Aug, 2019
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  13. Air_Bender

    Air_Bender Well-Known Member

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    Yes
     
    Air_Bender, 14th Aug, 2019
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  14. datto

    datto Well-Known Member

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    I wish Mt Druitt valuations dropped 200K......I wouldn't have to pay any rates if that happened lol.
     
    datto, 14th Aug, 2019
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  15. Scott No Mates

    Scott No Mates Well-Known Member

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    You don't pay them anyway....you call up the 'Handouts Officer' (hardship) at Blacktown Council, claim that the property sits on traditional Bogan Land and you are recognised as a well-disrespected Bogan Elder and have been on Gough's payroll since you were a little tacker.

    They'll waive any rates for years. :D
     
    Scott No Mates, 14th Aug, 2019
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  16. datto

    datto Well-Known Member

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    ssshhhh.......that's a little secret lol.

    Anyway, I'm at the train station now, sitting on the ground with a coffee and a placard (my life story is summed up in 2 lines). If you walk past drop a few gold coins onto the mat ( I need fuel for the commodore parked next to me).
     
    datto, 15th Aug, 2019
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  17. scientist

    scientist Well-Known Member

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    Where are you guys getting 2019 land values? my rates notices (and I received 3) all showing a vague "based on 2016 rateable value" column to work out the general charge but that's about it. The LPI NSW kml file is still not updated with 2019 land values.
     
    scientist, 17th Aug, 2019
    #17
  18. Oliver Shane

    Oliver Shane Well-Known Member

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    Have you considered using a payWave? You could just say you are ‘borrowing it’
     
    Oliver Shane, 19th Aug, 2019
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  19. datto

    datto Well-Known Member

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    Interesting. Yeah but I could have some heavy dudes after me when I default on repayments.
     
    datto, 19th Aug, 2019
    #19
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