The Valuer General has finalised the Review of the valuation of airport lands available here.
Under the Valuation of Land Act 1916, the Valuer General is responsible for providing independent and impartial land values for use by Revenue NSW and councils for taxing and rating. In NSW, airport lands are generally owned by the Commonwealth or councils. The Valuer General determines the annual land values for 6 Commonwealth airports, 37 council owned airports and 3 privately owned airports.
The aim of the review was to determine the most appropriate valuation approach for airport lands in NSW.