Differences in land values between neighbouring lands are common. Your neighbour’s land may have a different shape, dimensions or area to your land. These factors may affect the way the land may be used or developed.
Some of the other reasons why your neighbour's land value might be different to yours are described below.
Your neighbour's land may have different physical characteristics that affect its land value. For example, your neighbour's land might have poorer views, a steeper slope or inferior access.
Constraints on the use of the land
Land adjoining your land may be subject to different constraints. These may be due to zoning, easements, heritage restrictions or other constraints. For example, your neighbour’s land may have be subject to flooding which can reduce the value of the land.
Your neighbour's land may be used for a different purpose to your land (e.g. residential vs commercial use).
Concessions and allowances
In some circumstances, concessions and/or allowances applying to land under the Valuation of Land Act 1916 (the Act), may reduce the land value.
If you feel that your land is incorrect you may request a review.