In September 2022 the NSW Valuer General David Parker “warned that falling market prices will leave homeowners with overstated land values” advising people to collect data to challenge valuations within the allowed window.
With the market having softened we recommend you carefully review your notice. If you believe your assessment is too high, we strongly encourage you to object.
Time Limit
You have 60 days after the notice has been sent to you to lodge an objection.
The deadline is either:
- the date on the front page of your Notice of Valuation
- 60 days from the issue date on your land tax assessment notice.
How do I object?
Objections should be lodged online, using the Valuer Generals objection portal.
An objection only applies to one property. If you want to object to multiple properties, you must lodge separate objections for each.
Step 1 – Click HERE and register for an activation key
Step 2 – Enter the activation key code and property number from your notice
Step 3 – Complete the details and enter reasons for the objection
The keys
You need to provide evidence to support your objection. Therefore, you should carefully consider the evidence you are providing to ensure that it supports your objection. Your objection should focus on evidence that is relevant to the valuing year and that demonstrates your suggested land value is correct.
In this regard we point you to Valuer General’s Review Process. This document provides further insight.
When entering your reasons for your objection, please remember:
- Always include relevant sales evidence – speak to a local real estate agent or better still a registered valuer will need to conduct a valuation and provide such evidence as an expert opinion.
- Online research using portals such as realestate.com.au (actual sales results are necessary) ideally at least three relevant sales. Search here: https://www.realestate.com.au/sold/
- Use the suggested format on pages 5 to 7 of the Valuer General’s Review Process.
- Be sure to include any detrimental features of the property – major road, limited access, steep topography, significant easement, obscured views etc.
- Facts only
When will I find out?
Once confirmation of the receipt of the objection is received the Valuer General will write to you within 90 days providing an outcome of the objection.
Should you wish to discuss feel free to email me john@willsproperty.com.au
John Wills is Certified Practising Valuer and Fellow of the Australian Property Institute. He has over 30 years’ experience in the property and financial sectors. He is currently the principle at Wills Property 0293 871 700.
