The NSW Valuer General has today released its land values for the South Coast as at 1 July 2022, which show an overall increase of 38.2 per cent for the year.

Land in the Kiama LGA has increased overall by 34.2 per cent, with residential land value increasing by 37.8 per cent over the year; commercial land increasing 14.7 per cent; industrial land 10.3 per cent; and rural land 16.9 per cent.

A list of typical residential land values in the Kiama LGA show the patchiness of the increases, with a property on Headland Drive, Gerroa, increasing by 104.2 per cent over the year, while another in Stafford Street, Gerroa, has a 14.9 per cent increase.  

The summary report for the Kiama LGA is available here.

Owners can look up the value of their land here.

The new land values will be used by Revenue NSW to calculate land tax for the 2023 land tax year and will be used by Kiama Council to calculate the rates and charges for the 2023-24, 2024-25 and 2025-26 financial years. Land values are one factor used by councils to calculate rates.

Landholders will receive a Notice of Valuation showing their land value in coming weeks, giving them time to appeal before rates are calculated.

The South Coast overview shows overall residential land increased by 38.3 percent, with the largest increases were experienced in Bega Valley (62.1 per cent) and Eurobodalla (61.3 per cent), which come off much lower bases.

Commercial land values for the South Coast have also increased 32.6 per cent, again led by Bega Valley and Eurobodalla, with the summary by the Valuer General also noting commercial land increasing by 40.6 per cent in Wollongong.

The value of industrial land has been even stronger (40.1 per cent overall) with Shellharbour and Wollongong increasing by over 49 per cent.