The Tasmanian Government has announced it will work with the state’s councils to progressively roll-out a new rating and valuationg system following the release of a report into the sector.

Deputy Premier, Bryan Green, announced the plan following the release of the Valuation and Local Government Rating Review final report, which concluded that all councils should move transition to Capital Value ratings.

“While there is not a consensus among all councils at this time, the Government will work with those wishing to voluntarily transition to the capital value model,” Mr Green said.

Currently, Sorell Council is the only local government body reporting on capital value.

The report makes the following recommendations:

  • discontinues valuations on Assessed Annual Value (AAV) and assists councils to transition to Capital Value (CV) by 1 July 2016;
  • transitions to a valuation cycle of two years for Land Value (LV) and four years for CV;
  • maintains LV and AAV adjustment factors for each municipality until fresh valuations are completed;
  • seeks advice from local government on the preferred strategy for managing cost implications for councils associated with the transition; and
  • works with LGAT to improve the capacity of councils to manage differential rates resolutions.

The final report can be found here

http://www.dpac.tas.gov.au/__data/assets/pdf_file/0008/195722/FINAL_Valuation_and_Local_Government_Rating_Review_Report_April_2013.pdf