Blue Mountains News

Land Values for Bushfire Affected Communities

Source: Lithgow City Council
Posted: 3 May 2020
To support communities affected by the recent summer bushfires, Lithgow City Council has accepted an offer from the Valuer-General to receive a new valuation list for 1 July 2020 land values.

Since 1 July 2019 land values were determined, many communities have been devastated by the summer bushfires.

The 1 July 2019 land values recently issued to councils were determined before the recent bushfires occurred. This means that the values do not reflect any impact of the fires. Many residents have suffered property damage, lost homes, businesses and farm buildings since the 1 July 2019 land values were determined.

Property sales evidencing the impact of the bushfires in the year to date are currently limited. The Valuer-General has commissioned a study of the impact of previous bushfires on land values in NSW which will form the basis for a 1 July 2020 revaluation.

Analysis indicates that there are three variables to be considered when determining the impact of bushfires on 1 July 2020 land values, being:

  • the number of properties destroyed as a proportion of the total number of properties in the locality;
  • the prevailing level of demand for vacant land in the locality before the bushfires; and
  • the specific location of the subject property within the locality.

In the circumstances of the recent bushfires, the Valuer-General concluded that a reduction in the existing 1 July 2019 land values by up to 30% is appropriate depending on an assessment of the above three key variables in each locality.

It is important to note that changes in land value from the 1 July 2020 revaluation will be effective for the rating year commencing on 1 July 2021.

 
Blue Mountains Expeditions Blue Mountains Expeditions Blue Mountains Expeditions Your Adventure Begins Here

Recent News

Libraries offer ‘Select & Collect’ Service
Libraries offer ‘Select & Collect’ Service
From Tuesday 2 June, Libraries at Springwood and Katoomba will allow customers...
Council Announces Second Phase of Service Openings
Council Announces Second Phase of Service Openings
Blue Mountains City Council will partially reopen some library and cultural...
Butter Up and Bake a Change
Butter Up and Bake a Change
RSPCA is calling on animal lovers to bake a change in the fight agains...
Council calls for Expressions of Interest for the Audit and Risk Committee
Council calls for Expressions of Interest for the Audit and Risk Committee
We are looking for two qualified and experienced members of our community...
Recognising our Volunteers
Recognising our Volunteers
Due to Covid-19 Lithgow City Council’s planned Volunteer week celebrations...

What's New

HOME DELIVERY SERVICE
HOME DELIVERY SERVICE
Katoomba Family Hotel BOTTLE SHOP PRODUCTS AND PUB FOOD - 4782 1106
Welcome in-house diners from tonight
Welcome in-house diners from tonight
Alexandra Hotel Takeaway & delivery still operating as usual, from 5pm, including cocktails. Sittings available for this weekend.
Beauty services at your door
Beauty services at your door
Glamour & Elegance Mobile Beauty Pamper Events-Hens/bridal-Corporate-Kids Parties-Couples-Weddings-Ladies Pamper-Mothers Groups-Vouchers-
Family farm stay
Family farm stay
Foley's Farm Perfect for families, small groups, four bedrooms, open plan country kitchen, tennis court
***SPECIAL OFFERS***
***SPECIAL OFFERS***
Hills Havens SAVE $$$ for 3 nights, 2 guests from $150 per night MIDWEEK...see www.hillshavensleura.com.au for details
Also in this Section

Have You Visited

Announcement
***SPECIAL OFFERS***SAVE $$$ for 3 nights, 2 guests from $150 per night MIDWEEK...see www.hillshavensleura.com.au for detailsView Hills Havens »