Council's move to establish up-to-date rate, fee pricing

A NEW bid to have land values assessed every year could result in a decrease in rates and other land fees.

The annual valuation on rateable land is carried out every three years to help determine changes in official state land values as well as rates, land tax and land rentals.

Somerset Regional Council already pays the State Government more than $100,000 a year in compulsory annual valuation levies to have land values reviewed but the service is only carried out every three years.

The council's move to have land reviewed every year is expected establish a more accurate and up-to-date rate price scale and help guide landowners in the buying and selling process.

Somerset land values rose by 2.3% since the last value in June 2014 after they decreased by 7.5% in 2013.

More than $1.5 million in rates was outstanding to the council at the end of last financial year, with 29 notices of intention to sell issued to Somerset property owners.

Mayor Graeme Lehmann said the Valuer-General offered the council the opportunity to make the most of their cash and have the process carried out every year as opposed to every three years.

"If we are paying for it, it should be happening every year," he said.

"There is nothing to say rates are going to get more expensive, it's just to keep up to date with the changes.

"People need to know what the value of their land is to help with sales and that type of thing."