Posted on Wednesday, July 23rd, 2014 in by Matt Garmony
The Licensed valuers at Garmony Property Consultants have already started to receive enquiries about objections to increases in Gross Rental Values (GRV) for commercial properties. As local councils issue rates notices to land owners, enquiries to our licensed valuers have commenced, as some property owners have received significant increases to the Gross Rental Value (GRV) assessments which form the basis for council rates and taxes. The GRV which is the value used to multiply the council’s “rate in the dollar” to determine the Council rates amount payable is determined by the Valuer General. If the GRV appears too high, the land owner has the right to object to the GRV assessment. This objection requires justification and evidence to support the objection and often a proposed value is provided.
The Licensed Valuers at Garmony Property Consultants have the experience and expertise in providing rental valuations for Gross Rental Value and Land Tax objections for a broad range of commercial properties and can assist land owners with this process. Please contact one of our licensed valuers today, for further information and assistance in relation to Gross Rental Valuation objections.