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Land value question in Page

By miss molly - 18 September 2012 6

I just got my rates, and the unimproved value of the land has not budged a dollar in twelve months. (It shows me the ULV from January to January)

We bought it in August 2010. That year the ULV went up $60,000!

So my question is, who got the benefit of that increase? Me or the previous owners? And will it ever go up by such a huge amount again? We live in Page

What’s Your opinion?


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6 Responses to
Land value question in Page
screaming banshee 8:14 pm 18 Sep 12

who got the benefit of that increase?

The ACT government…that is all.

shirty_bear 2:36 pm 18 Sep 12

My experience is that ULV moves are some time behind the property market. They are essentially arbitrary, and the only beneficiary is the Govt (via rates).

Am a little surprised that yours went up in Page; I’m in Scullin, and SWMBO reported this morning that ours went down $5k. Must be the influence of those damn units down the street 🙁

Madam Cholet 11:37 am 18 Sep 12

We are in Tuggers and I recall ours went up seemingly astronomically in about 2010. Just got this years and it has not increased by much – about $18 a qtr. I don’t think that you or anyone else gets any benefit from the ULV – only the Government when it goes up. If you get your house valued by an independent valuer, I’m not sure that they look at this figure.

cbjcurtin 10:28 am 18 Sep 12

Ucv is not really that relevant it is just used to determin rates, I would be glade if mine didn’t go up.

arescarti42 10:05 am 18 Sep 12

So my question is, who got the benefit of that increase? Me or the previous owners?

Probably the previous owner I’d say. Price growth in Canberra in late 2009 and early 2010 was as high as 20%PA, probably as a result of all the stimulus the federal government put through to delay the impact of the GFC. Nationally, house prices peaked in October 2010.

And will it ever go up by such a huge amount again? We live in Page.

Maybe, if the government starts beefing up first home vendor grants again, lets people use their superannuation to buy housing, etc. it could probably happen. I certainly wouldn’t count on it any time soon though.

davo101 9:49 am 18 Sep 12

who got the benefit of that increase?

No one really. It all depends on how your ULV moves relative to the others, if it goes up compared to the average you can expect your rates to go up more than the average and if it goes down then less. It’s essentially just an index to divide up the total rates pie.

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