Role Of a Valuer General
The government requires evaluation of specialists for its lands. Transparent and fair assessment of land values is being provided by the Valuer General. While the names and designations may vary based on the states and territories, the job remains more or less the same.
Part of the Valuer General’s job
Collecting and collating data and assessing historical stats is part of their job. Serving a valuation notice to the landholders also falls within the arc of their job. The pertinent question is- why do we require valuation of land at all?
The value of land determines the tax/rates (council rates for example) that government levies/imposes on them. Its value is also the determining factor behind the kind of compensation it warrants (for the landholder) in the event of being forcefully acquired (from the landholder).
How often is the valuation notice served?
There are water and sewerage rates applicable for each land and the amount depends on how the land is valued. The valuation statement is served at a pre-stipulated interval,’ yearly, once in two or four years or as arranged.
How do they go about doing their job?
The Valuer General’s office has a database of property at its disposal. It uses comparable sales figures, market trends, historical sales data and zoning restrictions to come at a ballpark figure. Thorough research of other attributes helps them reach the precise last figure.
Such attributes may be diversely placed. For instance, valuers working for a particular Valuer General may give great deal of significance to the physical placement of the land- close to mines, soil structure, elevation, vulnerability to flood, among other things.
Of course, landholders have the right to contest the valuation, both when they feel their land has been undervalued and overvalued (leaving them with no choice but to pay higher taxes).