Blue Mountains News
Land Values for Bushfire Affected Communities
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.
From Tuesday 2 June, Libraries at Springwood and Katoomba will allow customers...
Blue Mountains City Council will partially reopen some library and cultural...
RSPCA is calling on animal lovers to bake a change in the fight agains...
We are looking for two qualified and experienced members of our community...
Due to Covid-19 Lithgow City Council’s planned Volunteer week celebrations...
Katoomba Family Hotel BOTTLE SHOP PRODUCTS AND PUB FOOD - 4782 1106
Alexandra Hotel Takeaway & delivery still operating as usual, from 5pm, including cocktails. Sittings available for this weekend.
Glamour & Elegance Mobile Beauty Pamper Events-Hens/bridal-Corporate-Kids Parties-Couples-Weddings-Ladies Pamper-Mothers Groups-Vouchers-
Foley's Farm Perfect for families, small groups, four bedrooms, open plan country kitchen, tennis court
Hills Havens SAVE $$$ for 3 nights, 2 guests from $150 per night MIDWEEK...see www.hillshavensleura.com.au for details