Property valuations are commonly used as the basis for property taxes across many jurisdictions in Asia, America, Europe and in every Australian state. Property can be valued in a number of ways, including the land value, capital value and rental value.
In NSW, land value is used as the basis for rating and taxing valuations. Land value is the value of the land only, and does not include improvements such as your home or other structures. For more information on how land is valued in NSW see the valuation method page or refer to the Valuer General's valuation policies.
The Valuation of Land Act 1916 (the Act) establishes the Valuer General as the independent statutory authority responsible for the overall management of the valuation system and for ensuring the integrity of land valuations.
The Valuer General delegates operational responsibilities under the Act to Property NSW, Department of Finance, Services and Innovation. More information on the roles of the Valuer General and Property NSW is available on the about us page.
The Valuer General employs a philosophy of continuous review and improvements to the system. The valuation system is continuously being monitored and various stakeholder groups contribute to its ongoing improvement.