Owners hope to land a bill drop

RESIDENTS in Darwin and Palmerston are questioning whether the drop in land value from the most recent unimproved capital value assessment will carry on to a reduction in rates.

On the back of economic downturn land values have dropped, in some cases by as much as $45,000.

Leanyer resident Ryan Sage said his property’s UCV had dropped $45,000.

He said he was worried that the drop in land value would not lead to a drop in rates.

“I just want an explanation that when there’s a new valuation and rates rise they blame it on the fact that land value has gone up so I want to know, if it does come down, why hasn’t it (the rates)? I want an explanation,” he said.

Low-density residential zones SS and RR in Darwin dropped 8.3 per cent and Palmerston’s dropped 6.4 per cent; and medium-high-density zones MD, MR and HR in Darwin dropped 13.5 per cent while Palmerston’s dropped 16.3 per cent.

The UCV is used to determine how much a property owner pays in rates – the higher the property value, the more an owner plays.

Both Darwin and Palmerston councils will review the rates for next year’s budget.

“As is normal practice for many local governments, regardless of whether valuations move up or down, the valuations only apply from the next financial year, in this case 2018/19,” a Palmerston Council spokeswoman said.

“Council will not be recalculating rates for the 2017/18 financial year.”

The UCV is determined by the NT valuer-general every three years.

Litchfield Council properties won’t be due for revaluation until mid-2018.

Litchfield Council chief executive Kaylene Conrick said currently rates were not based on UCV as residents had a fixed-price rate.