Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How is the Taxable Value of a property determined?

April 26, 2017Property taxable value

0

Posted

How is the Taxable Value of a property determined?

2 Answers

0

Posted

The State Revenue Office uses valuations provided by the municipal councils. Valuations used on assessments are a direct reflection of the councils ‘site value’ or capital unimproved value from the previous year’s council rates notice. This site value reflects the value of the land as at 1 Jan of the year it was issued. (For example, Site Value shown on a 2008-2009 financial year council rates notice reflects the value of the land as at 1 Jan 2008 and is used for the 2009 calendar year Land Tax assessment).

0

Posted

The State Revenue Office uses valuations provided by the municipal councils. Valuations used on assessments are a direct reflection of the councils ‘site value’ or capital unimproved value from the previous year’s council rates notice. This site value reflects the value of the land as at 1 January of the year it was issued. (For example, Site Value shown on a 2008-2009 financial year council rates notice reflects the value of the land as at 1 January 2008 and is used for the 2009 and 2010 calendar year Land Tax assessment).