More than 14,000 property owners across Tasmania have received fresh valuations reflecting almost a decade of market changes.
The Valuer-General has completed new assessments for all properties in the Sorell and Tasman council areas, the first revaluations there since 2016.
The updated figures came into effect at the start of the month.
Under Tasmania’s rolling valuation system, around one-third of the state is revalued every two years.
The 14,021 new notices cover land value, capital value and assessed annual value under the Valuation of Land Act 2001.
Valuer-General Guy Naish said the new valuations show just how much the property market has shifted over the past nine years.
“The Office of the Valuer-General engage independent valuers to undertake extensive market research through inspection and analysis of actual property sales to determine the value levels of various property types,” he said.
“These land valuations reflect property market changes since the local government areas were last valued and are the result of months of hard work and extensive research and analysis by the Office of the Valuer-General.”
Property owners are being urged to check their valuation notices carefully. Anyone with concerns has 60 days to lodge a formal objection.
The objection period closes on August 15 for Sorell properties and August 13 for those in the Tasman area.
Naish said it is important for owners to have their say to help ensure the figures are accurate.
He also made it clear that the valuations are independent assessments and don’t directly affect land tax or council rates.
Properties in all other Tasmanian local government areas will keep their current valuations for now, with no changes outside the Sorell and Tasman municipalities.
