land tax tip

[scott]

I heard on the radio a tip from a former employee of the department that manages the land tax in NSW.

Firstly a property is valued by the valuers department. Most people are happy to see an incresae in the value of their PPOR and put the valuation notice in the draw.

For the property investor this may mean an increase in land tax based on this valuation.

The rub comes when the land tax amount is notified (or applicable). It invariably arrives after the time period that applies to have the valuation amount appealed.

The moral of the story is to challange the valuation as soon as possible.

Scott

 

[Ebbie]

This is not always true. I recently received my land tax bill and I am in the process of objecting to the valuation. The OSR said to fax them a copy of the amended valuation once I recieve it from the VG (if I am succesful) and they will re-calculate the land tax payment.