Land value data for Cobar released
Wednesday February 11, 2009
The Cobar Local Government Area has a total value of around $226 million, according to the NSW Valuer General.
The office of the NSW Valuer General last week released land value data for many areas across the state, including Cobar.
Commercial and industrial premises have increased in value since 2007, while residential land values have remained steady.
Valuer General Philip Western said 3,725 properties will receive land valuation notices in the mail in the coming weeks.
“Typical values include a 695 square metre property in Morrison Street, Cobar, valued at $24,500; a 980 square metres property in Elizabeth Crescent, Cobar, valued at $25,000; a 1,012 square metre property in Cowper Street, Cobar, valued at $11,000 and a 880 square metre property in Acacia Drive, Cobar, valued at $28,000,” Mr Western said.
The land valuations are based on data at July 1, 2008, and will be used by Cobar Shire Council to determine landowner rates.
“The value of commercial and industrial properties has increased with typical values being an industrial property of 1,860 square metres in Wrightville Street, Cobar, valued at $35,000, with general values being at about $19 per square metre,” Mr Western said.
Valuers also studied rural land across the shire, with Mr Western reporting the values as “steady”.
He gave examples of mallee grazing properties near Emmdale valued at $15 per hectare; while further north near Tilpa grazing land was valued at $16.50 per hectare.
Closer to Cobar grazing properties were similarly valued, reaching around $15 per hectare, while in the south of the shire grazing land near Nymagee was valued at $35 per hectare.
Cultivation properties in the Euablaong area valued at $150 per hectare.
According to the Department of Lands, valuations are carried out for rating and taxing purposes on a regular basis under the Valuation of Land Act 1916.
“These values refer to land value only, which does not include the value of your home or other improvements.
“The land value does not generally reflect the full sale price that could be obtained for the property,” the department said.
Factors taken into account for the valuation include location, soil type and surface, town planning controls, land size and shape, and nearby developments.
Land owners are able to query the valuation once they have received notice in the mail.
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