Tasmania revaluates municipalities
The Tasmanian Valuer-General Warrick Coverdale has commenced a mail-out to advise of the fresh valuations of nearly 90,000 properties in Derwent Valley, Dorset, Flinders Island, Glamorgan-Spring Bay, Glenorchy, King Island, Launceston, Sorell, Tasman, and Waratah-Wynyard municipalities.
Property revaluations for the ten Tasmanian municipalities have been completed and are being issued this week.
Valuation in the mail with explanatory notes on the reverse side.
“The Land Value, Capital Value and the Assessed Annual Value for each property has been determined as at 1 July 2010 levels of value. The values will take effect from 1 July 2011 for rating and taxing purposes,” Mr Coverdale said.
The previous revaluations for this group of municipalities occurred in the 2003-2005 period. There have since been changes in the property market between then and July 2010 for the revalued municipalities with Sorell municipality showing the greatest changes in value, having been last revalued in 2003.
However, due to the introduction of market-based adjustment factors in 2007 the level of change from adjusted values has been moderated.