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 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 moreUnimproved Value Objections for Land Tax Assessments
Tuesday, December 21st, 2021The Department of Finance – Office of State Revenue’s Land Tax notices are being delivered to landowners. The Government has not altered rate in the dollar amount for the calculation of Land Tax payments based on the assessed Unimproved Land Value. Landowners often question the amount of Rates that are required to be paid. In most circumstances, commercial property landowners pass the cost of Land Tax onto tenants, who then dispute the amount of rates to be paid. Only the Unimproved Value or UV can be objected to. Not the rate in the dollar. This requires an Unimproved Value Objections ...
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 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 ...
Read moreUnimproved Value objection for Land Tax purposes
Tuesday, July 23rd, 2019It is now the time of the year that Department of Finance – Office of State Revenue’s Land Tax notices are being delivered to landowners. Landowners often question the amount of Rates that are required to be paid. In most circumstances, commercial property landowners pass the cost of Land Tax onto tenants, who then dispute the amount of rates to be paid. Only the Unimproved Value or UV can be objected to. Not the rate in the dollar. This requires a Unimproved Value objection for Land Tax purposes. Land Tax is an annual tax, based on a rate in the dollar ...
Read moreLand Tax increases hurt land owners
Monday, November 9th, 2015On 24 September 2015 The Land Tax Amendment Bill 2015 was passed by the Parliament and received the Royal Assent as the Land Tax Amendment Act 2015. Changes from the old Land Tax Act 2002 to the new Land Tax Amendment Act 2015 that affect the assessment of land tax as of the 2015-16 assessment year include: the introduction of a flat minimum land tax rate of $300 for taxpayers who hold land with a taxable value between $300,000 and $420,000; changes to the thresholds at which rates change; and increases of all rates except the top marginal rate of land tax. Based on our review of ...
Read moreGross Rental Valuations to be tested as Council Rates issued
Wednesday, July 23rd, 2014The Licensed valuers at Garmony Property Consultants have already started to receive enquiries about objections to increases in Gross Rental Values (GRV) for commercial properties. As local councils issue rates notices to land owners, enquiries to our licensed valuers have commenced, as some property owners have received significant increases to the Gross Rental Value (GRV) assessments which form the basis for council rates and taxes. The GRV which is the value used to multiply the council’s “rate in the dollar” to determine the Council rates amount payable is determined by the Valuer General. If the GRV appears too high, the land ...
Read moreLand Tax Notices – Objections have commenced
Friday, November 29th, 2013Western Australian property owners have been receiving their annual Land Tax notices, with some having significant increases in the Tax charged when compared to previous years. Under the “Valuation of Land Act” any person who is liable to pay any rate or tax assessed in respect of land who is dissatisfied with a valuation of such land made under the Act, may serve upon the Valuer-General a written objection to the valuation. An authorised representative can also make an objection on the land owners behalf. Property owners need to be aware the objection must be lodged within 60 days after the issue ...
Read moreLand Tax information 2011-2012
Thursday, October 27th, 2011What Land is Taxable? Taxable land is land you owned at 30 June 2011, excluding exempt land. Examples of taxable land include: • vacant land; • residences which are not used by the owners as their primary residence; • ‘secondary’ residences such as holiday homes, holiday units or hobby farms; • rental homes or units; • commercial properties including shops, offices and factories; • land held in trust or owned in a company name; • entitlement to land under any lease or licence from the Crown; • land used for business, commercial, professional or trade purposes under arrangements with the Crown, Crown instrumentalities, local authorities or public statutory bodies. Who ...
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