The Valuer General's land value is the value of the land by itself, excluding every structure on it. It is not what the property would sell for.
It is determined on a basis set by the Valuation of Land Act 1916, as at 1 July each year, and it is the figure councils calculate rates on. Revenue NSW assesses land tax on the average of the land values for the current year and the two preceding years, not on the single figure shown — which is why our report prints the series rather than one number.
On a suburban house the improvements are usually most of the price. A land value that is a large share of a past sale price tells you the buyer paid mostly for the land; a small share tells you they paid mostly for what is on it. Neither figure is a valuation, and the gap between them is not a discount or a premium.
The Valuer General does not determine a separate land value for an individual lot in a strata scheme. The scheme's land is valued once, as a whole, and that value is apportioned to each lot according to its unit entitlement; rates and land tax are calculated on the apportioned figure, not on the whole. A land value shown against a unit is the value of the entire site, and reading it as the value of that unit's land is wrong by roughly the number of lots in the scheme.
In a community scheme, the association property is not separately valued, but the individual lots are.
Our report says so on the face of the figure when the parcel is a scheme.
No sale price, no price estimate, and nothing derived from either. The Valuer General's open property sales files are licensed for non-commercial use with no derivatives, so no sale price and nothing derived from one appears anywhere in this product. Domain and realestate.com.au generally publish sale history and, for most addresses, a price estimate on their public property pages at no cost, and our report links to both. We are not affiliated with either and receive nothing if you use them.
The report names this as a gap and says where to go instead, rather than leaving a blank. That is how it treats every register that holds nothing for an address.
Check an address$9.90 including GST, paid once. Check the address first — the check is free and tells you which registers cover it before you pay anything.
Land value, as determined by the Valuer General of New South Wales, is the value of a parcel of land excluding structural improvements, determined on a basis set by the Valuation of Land Act 1916 and issued as at a 1 July base date.
It is the figure councils use to calculate rates. Revenue NSW assesses land tax on the average of the land values for the current year and the two preceding years. It is not a market valuation and does not represent the price a property would achieve.
No separate land value is determined for an individual lot within a strata scheme. The scheme land is valued as a whole and that value is apportioned to each lot according to its unit entitlement. In a community scheme, association property is not separately valued but individual lots are.
General information about New South Wales registers. Not legal, planning or valuation advice for any particular property.