On 22 October 2018 the Valuer-General for the Territory will be issuing Notices of Valuation to land owners in the Litchfield Municipality, Alice Springs Municipality and the nine Regional Council Areas across the Northern Territory.

Notices will be posted in the mail in late October/early November 2018.

The Notice of Valuation informs the land owner of the Unimproved Capital Value (UCV) of their land and is required by law to be issued by the Valuer-General every three years.

The UCV takes into consideration similar sales in the market, trends, supply and demand, and the land's current use and zoning. It also looks at resale evidence over the last three years for vacant land and improved properties with minimal renovation.

The Northern Territory and local governments can use land valuations as part of their calculations when they determine rates to be paid by land owners, but a change in UCV does not always mean a change in rates.

Land owners with enquiries about how the UCV of their land might affect their rates and land rentals should contact their local Council, rating authority or rental agency.

Land owners with enquiries about the Notices, what they mean or how to object to the assigned UCV, can contact the Valuer-General by email valuergeneral@nt.gov.au or phone (08) 8995 5375.

For more information and to sign up to the Valuations Online portal, visit www.nt.gov.au and search 'Property Valuations'.

Media Contact

Christine Joyce, 0437 868 115