What is the Site Value (SV)?
The Site Value (SV) is the market value of the land only. It is a hypothetical concept where there are buildings or other improvements, as the Valuer must assume that the buildings or improvements had not been made. What is the Net Annual Value (NAV)? The Net Annual Value (NAV) is the value of the property’s net annual rental, ie. gross annual rental and costs of leasing the property, less all outgoings such as Land Tax, building insurance and maintenance costs, but including Council rates. By law the NAV must be not less than 5% of the CIV. If I believe my valuation is incorrect, what do I do? Discuss the valuation of your property with one of Council’s Valuers, and if not satisfied with advice received, you may lodge a formal objection within two months of the issue of the rate notice. Objection Forms may be obtained directly from Council’s Madden Avenue Office, Mildura or Ouyen Service Centre. Completed Objection Notices should be sent to Council’s Property Services Manager, Mildura
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- What is the Site Value (SV)?
