The Valuer General has published the Valuation of Airport Lands Policy. The policy is based on the findings of the Valuer General’s Review of the valuation of airport lands published in October.
The Valuer General provides independent and impartial land values for use by Revenue NSW and councils for taxing and rating, as required under the Valuation of Land Act 1916. 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 policy outlines the approach valuers are to take, and factors to consider, when valuing airport lands zoned Infrastructure under Local Environment Plans for rating and taxing purposes.
