Capital and Site Value Overstated? 

Have it revalued!

Dear Client 

Revaluation of Land and Buildings Assessment

Council Rates and Land Tax notices will be sent out soon and we suggest you review the Capital and Site Values of each property.

There is the possibility that the value of your residential and/or investment properties have been overvalued.

If you consider a valuation to be overstated it can be reviewed.

As an example:  for Land Tax purposes, please consider the following scenario

Husband and Wife equally own Investment Property A and Investment Property B.

   Investment Property A – Taxable Site Value $ 540,000

   Investment Property B – Taxable Site Value $ 500,000

   Combined Land Tax Payable = $ 700

Initial Valuation Assessment is objected within 60 day period and it is determined Site Value has been overstated.

   Investment Property A – Taxable Site Revalued $ 470,000

   Investment Property B – Taxable Site Revalued $ 430,000

   Combined Land Tax Payable = $ NIL

The above example shows a saving of $700 per year, this equates to a potential $3,500 over-payment of Land Tax within 5 years.

Be aware there is only a 60 day period to object to a valuation assessment from the date of the first notice, therefore timing is of the essence if you wish to challenge an assessment.

Please contact us at any time to discuss your potential review.

Yours sincerely 

The Team at Gibson & Partners 


246 Brighton Road
Ph: 08 8376 0555
Fax: 08 8376 0559

Important: Liability limited by a scheme approved under Professional Standards Legislation. This is not advice.

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