The NT Government now has a good idea how far property prices have fallen in Katherine.
Rates bills have already arrived in mail boxes, but they are pegged at the values of property at Katherine which existed before PFAS contamination was made public.
The Valuer General has finished his investigation of the last three years of property sales in the town.
That study will lead to a town-wide revaluation, but not in time for these rates, but in time for next year.
That new valuation will be mailed out next month and residents have 30 days to object.
Many people expect property values have fallen sharply in Katherine, and not just in line with the Territory-wide drop, but because of PFAS.
Indeed, the impact of PFAS has become a multi-million dollar question to be battled out in court as part of Katherine's class action against Defence.
Katherine's legal action says property values have fallen and compensation should be paid.
Katherine's official property valuations are recalculated every three years by the Valuer General which is part of the Department of Infrastructure, Planning and Logistics.
Unimproved Capital Value sales inspections are complete and a quality assurance review is on track to be complete by late September, a department spokesman said today.
"In late October 2019, Notices of Valuation will be sent to land owners in the Katherine municipality. In late November 2019 when the objection period has closed, a copy of the Valuation Roll will be provided to (Katherine Town) council."
The Government determines the UCV, advises landowners, and is used by council to prepare its next annual rates bill.
The Valuer General calculates the valuation on reviewing sales, with "greater emphasis" on those sales that are closest to the July 1, 2019 effective date.
The 2019 Katherine revaluation will include analysis of sales prices that occurred within the Katherine locality between 2016 and 2019.
The full extent of PFAS contamination of Katherine was made public in November 2016.
There have been hefty rises in council's rates in recent years in the main to prepare for the closing and rehabilitation of the town's waste facility.
Council maintains it needs to set aside as much as $40 million for a new town rubbish tip.
Katherine Town Council has blamed past councils for failing to set money aside for the future.
The council held a rates forum in April and said it planned to hold another when the Valuer General would be available to discuss the latest valuations.
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