What does a Valuer General do?

What does a Valuer General do?

The Valuer General is an independent statutory officer, appointed by the Governor of New South Wales to oversee the State’s land valuation system. provides clear separation between the determination of land values and their use by the State Government and local councils for rating and taxing.

What is a general valuation?

The Valuer General oversees the valuation system, where over 2.6 million parcels of land are valued as at 1 July each year. We then check the accuracy and consistency of these values before they are issued. Under the Valuation of Land Act 1916, land value is the value of your land only.

How does the Valuer General value land?

We determine land values at 1 July each year in line with the Valuation of Land Act 1916 (the Act). Under section 6A(1) of the Act, we must assume the land is vacant and value it on its highest and best permitted use. This is based on current zoning and planning restrictions determined by councils.

What does the NSW Valuer General do?

More information. The Valuer General, is an independent statutory officer, appointed by the Governor of New South Wales to oversee the State’s land valuation system.

What does valuer mean?

valuer. / (ˈvæljʊə) / noun. a person who assesses the monetary worth of a work of art, jewel, house, etc; appraiser.

What is the process of land valuation?

In this method, value of land is estimated by analyzing recent sale prices of comparable land in the vicinity, adjusting the prices to account for any difference in size, shape, location and other features. The valuation expert must check average prices over the years and check for any volatility in prices.

What is valuation roll?

WHAT IS A VALUATION ROLL AND WHERE DO I FIND IT? This is a database in which the municipality stores the municipal valuations of all properties recorded on that particular roll.

What is valuation report?

A property valuation report is given to the property owner to indicate the condition of the house and how much it is worth in the market. The report helps a buyer as well as a seller in assessing the value of a property. Based on the property valuation reports, you can estimate the price of your property.

Is valuer a Scrabble word?

Yes, valuer is in the scrabble dictionary.

How is property valuation calculated?

Illustration for calculation total valuation of the property:

1. Total Built-up Area – 900 Square Feet / 83.61 Square Metres.
2. Balcony/Terrace – 200 Square Feet / 18.58 Square Metres.
3. Open Parking – 100 Square Feet / 9.29 Square Metres.
4. Floor Number – 5th Floor.
5. Lift – Yes.
6. Age of Property – 21 to 30 years.