Gross Rental Values & Valuation Objections
Monday, September 11th, 20231 July 2021 will be the effective date for the updated Gross Rental Values used by Local Councils to assess their Council Rates in 2023. These Council Rates will be based on the latest Gross Rental Value assessment or GRV by the Valuer General with the Date of Valuation being 1 August 2021. This is the first re-assessment of the GRV since the previous date of assessment in 2018 and since COVID-19. We are expecting Landowners and their Tenants will be questioning if the latest assessments are correct and if it is worthwhile objecting to the Gross Rental Value assessment ...
Read moreDemystifying Property Valuation Podcast
Thursday, March 30th, 2023Licensed Valuer and Managing Director of Garmony Property Consultants, Matt Garmony was recently a guest on the HMO Property Show, talking about all things valuation in the HMO Property Podcast “The Price is Right: Demystifying Property Valuation”. HMO Property Show host, Neil Gibb and Matt discussed topics such as; “How is a normal residential property valuation calculated?”. “How is a commercial property valuation calculated?” “How is a HMO (Co-living) and NDIS (National Disability Insurance Scheme) property valuation calculated?” These are just some of the topics covered in this informative and revealing episode. To listen to the episode click here. To watch the episode on ...
Read moreUnimproved Value Objections for Unimproved Site Value
Thursday, March 24th, 2022The Licensed Valuers at Garmony Property Consultants undertake numerous Valuations for the objection of the assessed Unimproved Value which is the basis for Land Tax assessments in Western Australia. If, following our valuation investigation it is decided an objection is warranted, our Licensed Valuers can submit the prescribed objection form as your “Agent” and liaise with the Valuer Generals Office throughout the objection process. Land Tax is an annual tax, based on a rate in the dollar of the Unimproved Value (UV) of the land, assessed by the Valuer Generals Office at Landgate. Under the Valuation of Land Act 1978, “Any ...
Read moreDevelopment Site Feasibility Analysis
Thursday, February 24th, 2022Our licensed valuers and property valuation consultants often assist clients with development site feasibility analysis to determine what a potential purchaser could afford to pay for a site that has development potential. The property valuer’s feasibility analysis can also determine if a project is economically viable. The valuers analyse and interpret the market sales evidence, review other consultants town planning and engineering cost advice and prepare a Hypothetical analysis or Discounted Cash Flow approach to determine the highest and best use Market Value. This method of analysis, along with the comparable sales method, provides owners or potential purchasers with an accurate, ...
Read moreObjecting to the Gross Rental Value Assessment
Monday, July 27th, 20201 July 2018 will be the effective date for the updated Gross Rental Values used by Local Councils to assess their Council Rates. These Council Rates will be based on the latest Gross Rental Value assessment or GRV by the Valuer General with the Date of Valuation being 1 August 2018. This is the first re-assessment of the GRV since the previous date of assessment in 2015 when the rental market across all property sectors was stronger. We are expecting Landowners and their Tenants will be questioning if the latest assessments are correct and if it is worthwhile objecting to ...
Read morePre-purchase & Pre-sale Valuations
Tuesday, September 17th, 2019The Licensed Valuers at Garmony Property Consultants undertake numerous pre-purchase and pre-sale valuations for a wide variety of property types. Purchasers, who are unsure of how much to offer on a property that is on the market ‘for sale’, often want an independent, unbiased and justified opinion on the market value. Sellers, who may have a unique property or have had had conflicting appraisals from local real estate agents, or are acting as an executive of an estate, often request us to provide pre-sale valuations for an independent, unbiased and justified opinion of the market value. A pre-purchase or pre-sale ...
Read moreCOUNCIL RATES & GROSS RENTAL VALUE OBJECTIONS
Friday, August 2nd, 2019July & August is when the Local Councils and Shires send out their annual Rates Notices. Landowners often question the amount of Council Rates that are required to be paid. In most circumstances, commercial property landowners pass the cost onto the tenants, who then dispute the amount of rates to be paid. Only the Gross Rental Value or GRV can be objected to. Not the rate in the dollar. Council Rates are based on a rate in the dollar of the Gross Rental Value (GRV) assessed by the Valuer Generals Office at Landgate. Under the Valuation of Land Act 1978, “Any ...
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