Factors our valuer consider when comparing property sales to the benchmark properties include the land's:
- most valuable use
- zoning, heritage restrictions or other use contraints
- location and views
- size, shape and land features
- nearby development and infrastructure.
Any concessions and/or allowances applying to your land under the Valuation of Land Act 1916 will be printed on your Notice of Valuation or land tax assessment.
The legal effect of encumbrances such as easements, rights of way, title covenants, caveats and 'restrictions to user' are not considered when determining land values. Only the physical effect of encumbrances can be organised in the valuation and land value review process.
Personal circumstances, council rates and land tax liability are not considered when determining land value.