Is there anyway to find out the land value of a property by looking it up online? If not how can I find out the land value of a property? Would local council tell me this if I phoned?
Land value
- Thread starter Tulamalula
- Start date
Tula, the value that you are looking for has very little to do with the market price of the land as it is used for calculating land tax and rates. If you have a land tax assessment the property number is on the invoice but you will need the correspondence number as well.
Yeah was thinking what relevance the LV has to the market price after posting that. LV is just to calculate your rates, right?
If you want know land value, research land that has recently sold in the area. In Wa your rates are calculated by rentable value of property, not land value like Qld.
Yes, rates are based on GRV. What about land tax? I've only just started paying land tax in WA and have not looked at an assessment notice yet.
Land tax in WA is determined on an Unimproved Value
http://www.finance.wa.gov.au/cms/up...and_Tax/Land_Tax_Brochure_2013-14_Website.pdf
http://www.finance.wa.gov.au/cms/up...and_Tax/Land_Tax_Brochure_2013-14_Website.pdf
Nice one! That answers the OP's question perfectly.
"The unimproved value of land is its market value under
normal sales conditions, assuming that no structural
improvements have been made."
It would be interesting to see how closely the VGO land values and actual market value of land aligns.
The vg uses bulk valuation methodologies to churn out the thousands of values annually. When grilled, they then review the data used and the comparable sales.
Prices can be skewed by demand for knock downs vs a lack of comparable vacant land. Refer to Maurici vs Valuer General/OSR NSW.
http://www.google.com/url?q=http://...IQFjAB&usg=AFQjCNEzhSboi9nhD3dHprpgeOFs5yPnLQ
This one's the game changer.
Prices can be skewed by demand for knock downs vs a lack of comparable vacant land. Refer to Maurici vs Valuer General/OSR NSW.
http://www.google.com/url?q=http://...IQFjAB&usg=AFQjCNEzhSboi9nhD3dHprpgeOFs5yPnLQ
This one's the game changer.
