On 15 October 2020, the Valuer-General for the Northern Territory issued Notices of Valuation to property owners in the Darwin City Council and Palmerston City Council regions.

The Notices were issued by post, unless the recipient has elected to receive these via email.

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

The UCV is the amount the land alone would be expected to sell for, without any improvements, at the effective date of the valuation. The UCV does not include the house, fences, pools or any other above ground improvements on the property.

The UCV takes into consideration similar sales in the market, trends, supply and demand, and the land's current use and zoning. The UCV assessment process also looks at sale evidence over the last three years including both vacant land and improved properties.

The Valuer-General does not set or levy rates, however Local Government Authorities may use UCVs as part of their calculations to distribute rates payable by property owners. Property 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.

Noting the Valuer-General does not set or levy rates, property 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.

Property owners in the Darwin and Palmerston municipality can object to the UCV during a 30-day objection period closing 20 November 2020.

Property owners are encouraged to sign up to receive their Notices online rather than through the post – once you have received your Notice in the mail, you can also sign up to receive future Notices online using the valuation reference number shown at the top of your Notice.

Visit nt.gov.au/property-valuations to sign up and for more information.