The Valuer General is required to provide land values to councils under the Local Government Act 1993 (NSW) for rating purposes.
On 30 May 2014, the Independent Pricing and Regulatory Tribunal (IPART) released its Determination and Final Report on the prices that the Valuer General can charge for providing these services to councils during the five years from 1 July 2014 to 30 June 2019.
The prices councils are charged for land valuation services provided by the Valuer General will increase by 2.3% in 2014/15, under the determination released by IPART. This is less than the rate of inflation, which IPART estimates to be 2.9% for 2014/15.
The final report, Review of prices for land valuation services provided by the Valuer-General to councils, is available on IPART’s website.