Statutory Valuation Review & Objections

The basis for land tax and council rates

Our services

  • Reviewing valuation-based statutory assessments for rates and land tax
  • Providing advice on merit for objection following audit and review
  • Preparing valuation objections and appeals, where appropriate, with the relevant authorities
  • Valuations for Stamp Duty

Frequently Asked Questions

A statutory assessment is a valuation-based assessment made by the Valuer General on land value (site value) and the value of a property inclusive of land and improvements (capital value).

Statutory authorities use these values to establish rating and taxing levies, including State Land Tax, Council Rates, Water Rates, and Emergency Services Levy for the new financial year.

Increases in these values results in a rise in the rates and taxes payable by land and property owners.

The taxing date of Statutory Assessments is 31 December each year, and the assessments are applicable to the following year.

You may have to pay land tax if you own one or more parcels of taxable land, such as investment properties, holiday houses or commercial premises.

You generally do not pay land tax on your home (principal place of residence), your farm (land used for primary production), or any land you own with a total taxable value below the land tax threshold.

Check the current land tax threshold, set by the Valuer General with the revenue department in your state.

An increase or reduction in the value of land or property can result in a significant increase or saving on rates and taxes for that financial year (and beyond).

If you believe you have grounds to object to your assessment you have the right to lodge a formal objection. The objection must be lodged within 60 days of receiving the notice of assessment.  

Both property owners and tenants have the right to object. 

To object to a statutory valuation assessment, you must provide sufficient market evidence to support your claim and substantiate that your valuation assessment is incorrect. This market evidence must demonstrate that the current statutory assessment is 10% more than the market for any amendment to be made.

Several other special considerations also need to be taken into account when presenting evidence to support an objection.

The team of credible and skilled qualified valuation professionals at Acumentis can assist you in assessing the merit of making an objection and building a strong case.

With access to up-to-date market insights and data, we can clearly articulate to the relevant authorities the best case for a revision in the assessed value, with reference to legislation.

How can we help you with your property needs?

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