But how will it affect your rates payable?
The recent government valuation of properties have seen huge gains in property values. This proves that it still is a great investment, but with escalating equity comes
Properties are not physically inspected during the process and no two properties are the same. Should you feel that the valuation is not justified, there are means to dispute it.
- Familiarise yourself with the valuation history of your property
- Gather recent sales information for your real estate agent
- Produce visual proof (photos / video) why your property is not on the figure
- Check for discrepancies that might affect the valuation
- Check community forums for other homeowners’ comments on their assessments
- Compare your property and rating with neighbours’ in the area
- Visit your Council office to find out the criteria used and calculation of the figure
- Objections to Council has a timeframe – don’t miss the deadline
- Obtain a valuation from a registered valuer to validate your concern of over payment on rates
Buying a property is the biggest investment you’ve made and with interest rates, escalating maintenance and insurance costs, you would rather spend that money towards paying off the mortgage faster.