Norfolk Island has its own Valuer-General who is appointed under the Land Valuation Act 2012 (NI) by the Minister; Mr Paul O'Kelly is currently appointed as the Valuer-General (NI).
Often the valuation of the land is confused with the levying of rates. These are two very distinct functions. It is not the Valuer-General who sets the total rate income (yield) of the Norfolk Island Regional Council (NIRC). This amount is determined by the Council as part of its annual budget process.
The information below is provided to assist property owners in understanding land valuations.
If you have queries about your valuation, in the first instance contact the Registrar of Titles on telephone +672 3 23691.
Valuation of Land
Norfolk Island property owners who are required to pay land rates received the first-time notice of valuation of their property from the Valuer-General in 2018, in accordance with the Land Valuation Act 2012 (NI). The date of valuation for the inaugural valuation was set as 30 June 2017 and, the date of effect of the valuation was 1 July 2018.
A review of land values is required under the legislation. This review is scheduled to be conducted at the start of 2022.
What is Unimproved Value?
The Unimproved Value is the amount the land alone, would be expected to sell for without any improvements. Improvements include a dwelling, shed, pool, garage, carport and any other structures on the land.
The Valuer-General considers the overall property market as well as the sales of properties in order to determine the Unimproved Value of the land without any structures.
What is the Unimproved Value used for?
The Unimproved Value is a figure which - once published - will be used by the Norfolk Island Regional Council (NIRC) to levy the ad valorem component of annual land rates.
The Valuer-General does not decide the number of rating levies, the total value of rates, the categorisation of properties or, any process related to the levying of rates. This is performed by the NIRC. Likewise, the Council is not involved in determining the value of properties on the island. The two processes are separate.
The Council is required to levy rates annually under the applied Local Government Act 1993 (NSW)(NI) when levying rates the Council must include an ad valorem component which relates specifically to the value of the land.
What can I do if I don’t agree with the Unimproved Value?
Property owners may lodge an objection within 60 days of the date of issue if they disagree with their valuation.
Objection forms are available from the Registry office and Customer Care. Please note that a separate objection form must be submitted for each property.
The Valuer-General will consider each objection and advise the outcome.
An objection to a valuation can only be made on one or more of the following grounds:
- The land value assigned to any land is too high or too low
- The lands which should be included in the one valuation have been valued separately
- The lands which should be valued separately have been included in the one valuation
- The person named in any valuation notice is not an owner of the land to which the notice relates
- The area, dimensions or particulars of any land are not correctly described
Objection to a valuation does not prevent the recovery of any rate or charge or the charging of interest.