Section 6.28 of the Local Government Act 1995 requires that Local Government in WA use valuation systems which relate to the purpose of the land. The general principle is that land used predominantly for rural purposes is to be rated based on the unimproved value of the land, and land used predominantly for non-rural purposes is to be rated based on the gross rental value of land.
What is GRV?
Gross Rental Value means the gross rental that the land might reasonably be expected to realise if let on a tenancy from year to year upon condition that the landlord were liable for all rates, taxes and other charges thereon and the insurance and other outgoings necessary to maintain the value of the land.
The Valuer General revalues all properties within the metropolitan area once every three years, and every 3-5 years in country areas of the state. It is unusual for property markets to remain constant and despite any changes to the property market which may occur in between general valuations, GRVs remain fixed until the next general valuation.
What is UV?
Unimproved value is the amount that land could be expected to realise upon sale. Unimproved values are determined annually.
If you feel that the valuation applied to your property is incorrect, you can lodge an objection with the Valuer General’s Office within 60 days of the issue of your Rates Notice. This process is only for objections to the Gross Rental Value allocated to a property by the state government and not the rate in the dollar. The Shire of Toodyay is not authorised to alter property valuations except on the advice of the Valuer Generals Office.
For further information please visit Landgate’s website landgate.wa.gov.au/valuations, or alternatively call Landgate Customer Service on 08 9273 7373.
You can also find out more about Gross Rental Value (GRV) and Unimproved Value (UV) by viewing informative videos on the Landgate website