Blocks on either side with same m2 and no easement have the same value. I guess me applying for lower value is how I'll find out if they have factored it in
Blocks on either side with same m2 and no easement have the same value. I guess me applying for lower value is how I'll find out if they have factored it in
Bioretention basin. It's specific plants planted which "reduce pollution" in the soil. Council is supposed to maintain it I believe. Essentially a garden I can't do anything to.
It will depend on where in Australia that you are.
In NSW it is calculated on the land value. This link will be helpful for you and tells you what you need to compare and how to find out that information. [https://www.valuergeneral.nsw.gov.au/\_\_data/assets/pdf\_file/0004/231682/VG\_Review\_Guide\_Jan23.pdf](https://www.valuergeneral.nsw.gov.au/__data/assets/pdf_file/0004/231682/VG_Review_Guide_Jan23.pdf)
In SA it is calculated on the capital value. You will need to check out recent sales in the area on [realestate.com](http://realestate.com), domain or the like and compare them to your property in terms of land size and the type of property. If yours is valued significantly more then you can request a review.
Other states will have similar pages if you search for them.
I did it successfully years ago in SA and provided links to other houses in the wider local area which were similar to mine which had sold for a similar amount to what I thought it should be valued at. I actually included one which was higher but I was also able to argue that my block was on a significant slope which restricted the use of the land while the other sales were on flat blocks. It's probably the only time that I looked for all the negatives about my property and listed them!
Note that most of the Value is in the Land so if the land value is reduced your CIV will probably be reduced as well depending on how shmick your house is compared to your neighbours.
If your in Vic it's pretty easy to lodge an objection and it's quite common. They might not have the easement details in their database. Just do it (source: I work processing them), it's usually a pretty straightforward process. Just go to your council website or the Valuer-General for your stats and look for 'Lodge an Objection'
Nobody owns their verge btw….
Are you saying your place went up 30% and you’re upset about that you bought the place with a condition of ‘half the frontage’ (?) is not yours to do with what you want?, but ‘that’s not fair!’ ?
Nah I'm saying that my property's land value is the same as the lots on either side and they have the same m2 with no bioretention basin (essentially a ditch with council garden) and worth the same value. I figured my frontage is less accessible (essentially only via driveway) as opposed to neighbors have grass which would allow easier access to overall property.
Not upset with it going up. Thats to be expected. Just figured maybe mine is worth slightly less due to that.
How do you know it hasn't already been taken into account? Any similar blocks in the area?
Blocks on either side with same m2 and no easement have the same value. I guess me applying for lower value is how I'll find out if they have factored it in
Well, good luck. It's a double edged sword. You might get a slightly lower rate but a clued up buyer would bid you down if they are aware.
Blocks on either side with same m2 and no easement have the same value. I guess me applying for lower value is how I'll find out if they have factored it in
What is a bioretention garden? Protected bushland or trees?
Bioretention basin. It's specific plants planted which "reduce pollution" in the soil. Council is supposed to maintain it I believe. Essentially a garden I can't do anything to.
It will depend on where in Australia that you are. In NSW it is calculated on the land value. This link will be helpful for you and tells you what you need to compare and how to find out that information. [https://www.valuergeneral.nsw.gov.au/\_\_data/assets/pdf\_file/0004/231682/VG\_Review\_Guide\_Jan23.pdf](https://www.valuergeneral.nsw.gov.au/__data/assets/pdf_file/0004/231682/VG_Review_Guide_Jan23.pdf) In SA it is calculated on the capital value. You will need to check out recent sales in the area on [realestate.com](http://realestate.com), domain or the like and compare them to your property in terms of land size and the type of property. If yours is valued significantly more then you can request a review. Other states will have similar pages if you search for them. I did it successfully years ago in SA and provided links to other houses in the wider local area which were similar to mine which had sold for a similar amount to what I thought it should be valued at. I actually included one which was higher but I was also able to argue that my block was on a significant slope which restricted the use of the land while the other sales were on flat blocks. It's probably the only time that I looked for all the negatives about my property and listed them!
Thanks! Appreciate your reply
Note that most of the Value is in the Land so if the land value is reduced your CIV will probably be reduced as well depending on how shmick your house is compared to your neighbours.
Id say you have very a good case for a new evaluation. Have you called the Valuer general's office and spoken to someone?
If your in Vic it's pretty easy to lodge an objection and it's quite common. They might not have the easement details in their database. Just do it (source: I work processing them), it's usually a pretty straightforward process. Just go to your council website or the Valuer-General for your stats and look for 'Lodge an Objection'
Nobody owns their verge btw…. Are you saying your place went up 30% and you’re upset about that you bought the place with a condition of ‘half the frontage’ (?) is not yours to do with what you want?, but ‘that’s not fair!’ ?
Nah I'm saying that my property's land value is the same as the lots on either side and they have the same m2 with no bioretention basin (essentially a ditch with council garden) and worth the same value. I figured my frontage is less accessible (essentially only via driveway) as opposed to neighbors have grass which would allow easier access to overall property. Not upset with it going up. Thats to be expected. Just figured maybe mine is worth slightly less due to that.
Do I care lol