The NT’s Valuer-General will next week be issuing new valuations to land owners in the Litchfield, Alice Springs municipality and the nine Regional Council Areas.
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Notices will be posted in the mail in late October/early November 2018.
The new valuations for Katherine town (ie residential, industrial and commercial - except pastoral) is due on July 1 next year.
Because of the PFAS crisis, many people have speculated that property prices have already dropped by a third.
It is the subject of a class action against the Department of Defence.
Victoria Daly and Roper Gulf are in the Regional Council areas and as such are this year.
Any pastoral that is in the Katherine district is also this year.
The Notice of Valuation informs the land owner of the Unimproved Capital Value (UCV) of their land and is required by law to be issued by the Valuer-General every three years.
The UCV takes into consideration similar sales in the market, trends, supply and demand, and the land's current use and zoning. It also looks at resale evidence over the last three years for vacant land and improved properties with minimal renovation.
The Northern Territory and local governments can use land valuations as part of their calculations when they determine rates to be paid by land owners, but a change in UCV does not always mean a change in rates.
Land owners with enquiries about how the UCV of their land might affect their rates and land rentals should contact their local Council, rating authority or rental agency.
Land owners with enquiries about the Notices, what they mean or how to object to the assigned UCV, can contact the Valuer-General by email valuergeneral@nt.gov.au or phone (08) 8995 5375.
For more information and to sign up to the Valuations Online portal, visit www.nt.gov.au and search 'Property Valuations'.
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