Do council valuations give a guide to real value?

Viewing 5 posts - 1 through 5 (of 5 total)

TonyB2
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@tonyb2
Join Date: 2013
Post Count: 2
May 18, 2013 - 12:30 am
G'day all.
A few years back when last I looked, the improved capital value on a property that appears on the rates notice, were always lower than the real value/selling price. Is that still the case? When serious about a property you can ask for the section 32 & the latest rates notice will be shown, with that capital improved value.
I know councils have been pushing up the valuations for a while, so they receive higher rates. So have they pushed their valuations above market?
thanks,
tony
Scott No Mates
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@scott-no-mates
Join Date: 2005
Post Count: 3,856
May 18, 2013 - 5:21 am
Council valuations are for ratings purposes, market valuations are for selling price, replacement valuations are for insurance purposes, rental valuations are for renting etc. Each type of valuation has its purpose and is not to be considered for other purposes.
So in short, no;
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
May 18, 2013 - 10:42 pm
Nope – they rarely match up.
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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RPI
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Post Count: 308
May 19, 2013 - 5:45 am
No. All over the shop and make no sense to me.
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TheFinanceShop
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May 19, 2013 - 7:04 am
I have yet to see one come back even close to the actual land value.
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