Can someone please help me with my land tax dispute. Kedron has gone from $320k to $400k in just one year.
Dear Sir / Madam,
I am writing to please ask you to consider my land tax valuation.
I think an increase of $80k in one year is quite a lot. I purchased this property in April 2014 for the sum of $531k. It is a basic unrenovated 3x1 house on 443sqm. As I had already missed out on another two properties in Kedron, I decided to pay an extra $10-15k over the asking price, meaning I could very well have overpaid for this property.
Recent sales:
45 Edinburgh Castle Road sold in March 2015 for $570k with 506sqm
22 Edinbugh Castle Road sold in Feb 2015 for $570k with 5x2 and 607sqm
11 Patomar St sold in Feb 2015 for $503k with 516sqm
52 Seventh Ave sold in Feb 2015 for $582k with 607sqm.
Fully renovated 12 Evans St sold in Feb 2015 for $590k 425sqm.
3 Epping St sold in Feb 2015 for $562 with 615sqm.
20 Kate St sold in Feb 2015 for $565 with 607sqm.
111 Stafford Rd sold in Jan 2015 for $545 with 625.
According to (Realestate.com.au) RP data the median price for a 3x1 in Kedron is $565k. In the latest API mag it shows an increase of 10% in price over the past 12 months.
I believe if I were to sell my property it would probably go for $560-580k. To build a new house would cost around $250k, leaving the land value around $310-$330k.
thanks
Dear Sir / Madam,
I am writing to please ask you to consider my land tax valuation.
I think an increase of $80k in one year is quite a lot. I purchased this property in April 2014 for the sum of $531k. It is a basic unrenovated 3x1 house on 443sqm. As I had already missed out on another two properties in Kedron, I decided to pay an extra $10-15k over the asking price, meaning I could very well have overpaid for this property.
Recent sales:
45 Edinburgh Castle Road sold in March 2015 for $570k with 506sqm
22 Edinbugh Castle Road sold in Feb 2015 for $570k with 5x2 and 607sqm
11 Patomar St sold in Feb 2015 for $503k with 516sqm
52 Seventh Ave sold in Feb 2015 for $582k with 607sqm.
Fully renovated 12 Evans St sold in Feb 2015 for $590k 425sqm.
3 Epping St sold in Feb 2015 for $562 with 615sqm.
20 Kate St sold in Feb 2015 for $565 with 607sqm.
111 Stafford Rd sold in Jan 2015 for $545 with 625.
According to (Realestate.com.au) RP data the median price for a 3x1 in Kedron is $565k. In the latest API mag it shows an increase of 10% in price over the past 12 months.
I believe if I were to sell my property it would probably go for $560-580k. To build a new house would cost around $250k, leaving the land value around $310-$330k.
thanks