The unusual situation, where most property owners hope to experience a rise in values, happened with the arrival of letters across Katherine this week telling residents how much their property is worth.

The letters are the result of a revaluation of Katherine, to allow Katherine Town Council to set rates for the next three years.

According to several residents, who also claim to have spoken to others about their advice, their valuations had fallen by 5-10 per cent.

Speaking anonymously to the Katherine Times, the residents claimed the values did not reflect the current market conditions in Katherine due to PFAS contamination.

"There is no way me or anyone else could sell their house here at the moment and lose only 10 per cent," one resident said.

"Ask anyone, property is just not selling here because of PFAS, if they could get me what they say they can, they can try."

The valuations were set by the NT Government through the office of the Valuer General, and not set by the council.

People have 30 days to object to the valuation.

Property valuations and the impact of the PFAS is a contentious issue in Katherine.

Shine Lawyers is basing its class action against the Department of Defence on the fall in property values cause by PFAS still leaking from the Tindal RAAF Base.

While it says it is keeping its expert opinions in house until the Federal Court hearings begin next year, it is known some of those giving evidence consider their properties unsaleable.

It is still not known when there will a public release of information about the Katherine valuations, and the average results found by the Valuer General.

The unimproved capital values are calculated by the NT Government, basically by doing a desktop analysis on any recent property sales in the area.

Many people believe values across the town have fallen across the town because of PFAS contamination fears and a class action against the Defence Department in largely based on that.

But some residents have already been told to expect little change in their valuations from that estimated three years ago.

Any objections to the valuations are to be lodged with the Valuer-General, not Katherine Town Council.

The notices sent this week contain information about the objection process.

After the 30 days is over, the "valuation roll" is presented to council on which it will base next year's rates.

The government does not set or levy rates.

The UCV (unimproved capital value) identifies the amount land alone would be expected to sell for without any encumbrances or improvements (i.e. dwellings, sheds, pools etc.).

UCVs are determined by considering similar sales in the market, observed trends, supply and demand, and the land's current use and zoning.

The 2019 Katherine revaluation includes analysis of sales prices that occurred within the Katherine locality between 2016 and 2019.

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