REINSW  

SEARCH

 Click to Search
   MEMBER LOGIN Username    Password  Remember me Click to Login Forgotten password?  About REINSW  Contact Us   
:: Latest news
Click to print page
bullet
Wollongong land value $20 billion
Released 1 February 2011



NSW Valuer General, Philip Western, has revealed that the total land value of the Wollongong local government area (LGA) is now more than $20 billion.  

Wollongong City Council will use the valuations as a guide for setting ordinary rates for the next three financial years and land valuation notices are being issued for more than 66,600 properties.

Mr Western says that residential land values in the southern areas of the Wollongong LGA generally remained steady, while areas in the north “showed a slight increase”.

Wollongong Council’s Acting General Manager, Peter Kofod, says that based on the value of their property compared to values across the city as a whole, there will be a redistribution of the amount each ratepayer has to pay.

“Within any one suburb there may be substantial variations between rates payable on properties,” he says.

Council has offered a $250 rates rebate for pensioners and may assist residents who face financial hardship due to a rates rise.