Landholders in the Kiama LGA are receiving their latest land valuations from the state Valuer General’s Department and have been shocked – rather than surprised – by the ramp in property values in the 3-year period since the previous assessment.
A typical figure for a small block in Gerroa has gone from 910,000 to 2.59 million dollars. Rural properties have similarly been increased.
The council uses the land value to set rates, and the mayor has already spoken on ABC radio to allay the fear that council rates will not rise by two or three times next year.