Media Release: Unimproved valuations to be reviewed

Published on Wednesday, 16 September 2020 at 4:00:06 PM

Properties currently rated on their unimproved valuation (UV) are to be reviewed by the Shire of Wandering

 

The Shire is required under section 6.28 of the Local Government Act 1995, to review and make recommendations to the Minister for Local Government and Communities as to the method of valuation to be used by the Shire for rating purposes.

 

A pack will shortly be sent to all rural residential and industrial zoned ratepayers currently rated on UVs.  The pack includes:

 

  • Introduction Letter
  • Details of your property according to Council’s rate records
  • Land Use Declaration Form
  • Discussion Paper for Change in Method of Valuation
  • An extract of the Shire’s 2014/15 Annual Budget detailing rates in the dollar
  • Frequently Asked Questions

 

Section 6.28 of the Local Government Act 1995 (The Act) requires that the general principle for the basis of valuing land is to be:-

  • Unimproved Value (UV) - where the land is used predominantly for rural purposes  and
  • Gross Rental Value (GRV):- where the land is used predominantly for non-rural purposes

 

Where the land is used predominantly for non-rural purposes, the gross rental value of the land will be applied. Council will seek the Ministers approval to have the property rated on Gross Rental Value (GRV).

 

Whilst the Valuer General provides the GRV and UV valuations, the Shire is responsible for ensuring the appropriate method (GRV or U.V) is used to calculate rates.

 

When it came to rate calculations, UVs are based on unimproved land value multiplied by the applicable differential rate in the dollar.

 

GRVs are based on the gross annual rental value that the land might reasonably be expected to realize if let on a tenancy from year to year, multiplied by the applicable differential rate in the dollar.

 

Ratepayers are requested to complete the declaration forms and return them to the Shire. “We encourage people to make comment so that their views could be considered.”

 

ENDS


 

Media contact:        Belinda Knight

                                    Chief Executive Officer

Phone:                       (08) 98841056

Email:                         ceo@wandering.wa.gov.au

Date:                           16 September 2020

More information:
Media Release- Printable Version
Change in Method of Valuation
Extract from 2020-2021 Budget
Land Rating Review FAQs
Landgate Rating Taxing Valuation Information Sheet

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