We determine land values at 1 July each year in line with the Valuation of Land Act 1916 (the Act).
Under section 6A(1) of the Act, we must assume the land is vacant and value it on its highest and best permitted use. This is based on current zoning and planning restrictions determined by councils. But if the land’s development exceeds those restrictions, we must apply section 6A(2) and instead value it on its higher existing use.
The following pages cover:
- the mass valuation process we use to value most land
- specific processes for some concessions, allowances and property types
- a glossary of common valuation terms.