Land value is the value of your land only – your home, or any additional structures or improvements you may have made, are not considered when the property is valued.
Factors that contribute to the valuation include:
- heritage restrictions
- nearby developments and infrastructure
- the size, shape and features of the land
- zoning or other use constraints
- vacant land versus improved property sales analyses
Your personal circumstances, council rates and land tax liability are not considered when determining land value.
The standards and policies for the valuation system are set by the NSW Valuer General, and valuations are determined at 1 July each year.
If you’d like more information on how your land is valued, visit the Valuer General website.