Your rates notice will include the site value of your property, which is determined by an independent valuer appointed by your local council or by the State Valuer-General. Victorian legislation stipulates that all properties must be revalued every two years.
If your property is subject to land tax, the site value will be used to calculate how much land tax you are liable to pay for the 2018 and 2019 land tax years. Therefore, it is worth reviewing the site value of your property to ensure you are not overpaying land tax relative to other property owners in the same area.
If you disagree with the assessed site value, you can lodge an objection to the rates notice with your local council. Generally, the objection must be in writing and lodged with the relevant council within 2 months of receiving your rates notice.
In deciding whether or not to lodge an objection, it is helpful to know if the site value figure that the council has come up with is reasonable. Pitcher Partners can arrange for a professional valuer to undertake an initial desktop review of your property at a very competitive cost, to assist you in determining whether the site value on your rates notice is reasonable. If the desktop review determines that the site value is too high, we can then assist you with lodging an objection with your local Council.
If the objection is successful, a supplementary report will be issued to reflect the new site value of the land. The new valuation will also be forwarded to the State Revenue Office and land tax should then be calculated based on the revised site value.
Please contact your Pitcher Partners representative or one of our land tax experts below if you would like us to arrange a desktop valuation review of your property or to assist you with lodging an objection to a rates notice.