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2024 Fresh Valuations

Fresh statutory valuations have been completed on King Island.

Please review your Valuation Notice when you receive it and direct any objections to the Office of the Valuer-General. The objection period is 60 days commencing on 31 May and expiring on 30 July 2024.

**It is important to note that the ‘cents in the dollar’ for rating purposes will be revised on King Island so that the overall Rates income levied by Council will be similar to prior years.**

 

The Media Release from the Office of the Valuer-General and information for Owners and on lodging an Objection to a Valuation are below.

10 May 2024
Department of Natural Resources and Environment Tasmania
Fresh revaluations in eight municipalities

Fresh valuations for property in eight Tasmanian municipalities have been completed and will be issued from 15 to 31 May 2024.

Over 80,000 new valuations will be issued by the Valuer-General to landowners in the municipal areas of King Island, Flinders Island, Dorset, Derwent Valley, Glamorgan Spring Bay, Launceston, Glenorchy and Waratah-Wynyard, and will reflect property market changes since the previous Fresh Revaluation at 2016 levels.

Roughly one-third of Tasmania is valued every two years under the current valuation cycle and these new valuations will take effect from 1 July 2024.

The valuations for Land Value, Capital Value and Annual Assessed Value provide independent assessments under the Valuation of Land Act 2001.

The Valuer-General has no role in Land Tax matters, nor rates set by Councils when they determine annual budgets. Valuations are not the only data considered by Councils when setting rates.

“The Office of the Valuer-General engage independent valuers to undertake extensive market research through inspection and analysis of actual property sales to determine the value levels of various property types,” said Valuer-General Guy Naish.

“These land valuations reflect property market changes since the local government areas were last valued and are the result of months of hard work and extensive research and analysis by the Office of the Valuer-General,” said Mr Naish.

“In order to ensure the state’s Valuation Roll is accurate, we encourage property owner’s participation in the process by checking the detail and values recorded on their notices once received.”

If a property owner feels the recorded valuation details are not correct, they have 60 days to lodge a formal objection with the Office of the Valuer-General.

Land valuations will remain unchanged in local government areas that aren’t included in this round of valuations.

Further information on the valuations process or to make an objection can be found on the Office of the Valuer-General website at Office of the Valuer-General (OVG) | Department of
Natural Resources and Environment Tasmania (nre.tas.gov.au) or by contacting 03 6165 4444 or OVG@nre.tas.gov.au.

 

Quick Links

Owner’s Guide – Fresh Valuations

Owner’s Guide – Objecting to a Valuation

Form – Objection to Valuation