Land values arrive in mailboxes

Published on 08 April 2020

The NSW Government Valuer General has begun to distribute land valuations, with some of these arriving in mailboxes in Goulburn Mulwaree last week.

Notices of Valuation are distributed at least every three years, allowing you to consider your land value before council sets your rates.

It’s important to note that a significant rise in your notice of valuation does not always mean a rise in Council rates. Council rates are based on each council’s rating structure, and limits to increases are set by the Independent Pricing and Regulatory Tribunal (IPART).

The rate peg set by IPART for 2020/21 is 2.6%, meaning rates total revenue cannot increase by more than this amount.

The average of change in valuation for the region across all rating categories is 68.44%. If your valuation went down, or rose by less than 68.4%, you can expect a rate rise of lower than the 2.6% IPART cap. If your valuation increased by more than 68.4% your rate rise will be above 2.6%. Council reinforces that total rates revenue will not increase by more than 2.6%.

Council will consider the Operational Plan & Budget for 2020/21 at their meeting tomorrow night (Tuesday 7^th April), which is recommended to be placed on public exhibition. The document is recommending a 2.6% increase in rates, in line with IPART.

Council is awaiting direction from the Office of Local Government NSW in regards to rates, and will be re-examining our hardship policy, to consider factoring in the effects of COVID-19 on our community and the economy.

If approved by Council, the Draft Operational Plan & Budget 2020/21 will be placed on public exhibition from Thursday April 9^th until Friday 15^th May 2020 for wider community comment. Invitations will also be extended to any submitters wishing to speak to their submission at the Council meeting on 2^nd June 2020.