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.