Bega Valley ratepayers to contact Valuer General after land values shock

Around 70 ratepayers attended a Bega Valley community-led meeting on Wednesday, May 31 in an effort to better understand the effect their new land values would have on their rates.

Bega Valley Shire CEO Anthony McMahon said he was pleased to see the strong turnout from ratepayers across the shire at Pambula CWA rooms.

Bega Valley ratepayers are seeing some of the largest increases in land values in NSW and there has been concern over how these increases would impact rates.

READ ALSO:

The land values reflect the property market at July 1, 2022. Land values do not include the value of a home or other structures.

Mr McMahon explained that council cannot collect additional rates because of increases in land values. There is a set amount it can collect each year and the only way it increases is either by the rate peg (4.1 per cent for 2023/24) or by a special rate variation (SRV).

There will be an effect though, particularly for those living in areas which have seen the greatest increases, such as the coastal areas, Wolumla and Nethercote because those ratepayers will be taking on a larger share of the general rate burden due of their large increases.

It is something that has prompted residents to question the methodology of valuations. Many of the residents at the meeting said they would be contacting the Valuer General seeking a reassessment.

One ratepayer from Wolumla said she had received a land valuation of almost $600,000 but a similar property just doors away had sold for $440,000 which included the home as well.

But Mr McMahon said the SRV (if approved by the Independent Pricing and Regulatory Tribunal - IPART) would have the greatest effect on rates bills. Council is seeking an increase of 24 per cent for 2023/24 and 19.6 per cent for 2024/25.

READ MORE:

Anyone wanting to contact the Valuer General regarding their land values should do so within 60 days of receiving their notice. There is an online objection portal and also a phone number (1800 110 038) for anyone without internet access to have an initial discussion.

You will need to supply evidence to support your objection and provide three sales to support your contended land value.

More information about the objection process can be found at www.valuergeneral.nsw.gov.au/land_values/

Organiser of the meeting Janine Houghton said she thought the meeting went really well.

"People have a much better understanding but I am thinking of doing a petition," Ms Houghton said, adding that she thought another meeting might be needed.

Councillors Mitchell Nadin, Karen Wright and the mayor Russell Fitzpatrick also attended the meeting.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:

Bookmark www.begadistrictnews.com.au

Make sure you are signed up for our breaking news and regular headlines newsletters

Follow us on Twitter: @Bega_News

Follow us on Instagram: @begadistrictnews