Property valuation hike for 440,000 SA homes, resulting in higher rates, levies and taxes

Property valuations are about to rise for two-thirds of SA homes – meaning higher rates, levies and taxes for owners. See what the increase is in your council area.

Tens of thousands of South Australian ratepayers face residential property valuation hikes in excess of 10 per cent, while for hundreds the rise will be more than 50 per cent.

The Valuer-General has revealed that the capital values of 440,281 of the state’s nearly 670,000 residential properties, which make up 73 per cent of the state’s rateable land, will increase from July 1.

The new capital values will be used to set statutory fees and charges, including council rates, emergency services levies and landscape levies. Some councils are considering introducing rate caps to avoid homeowners being hit with exorbitant increases.

The capital value of 34,458 properties will rises more than 10 per cent, and 696 in excess of 50 per cent.

The capital value of 34,458 properties will rises more than 10 per cent, and 696 in excess of 50 per cent.

The figures, released to The Advertiser, also reveal that values of 203,197 residential properties will remain unchanged and 26,469 property values will decrease.

The average statewide residential value increase will be 3.54 per cent.

But the average residential site values – which are used to calculate land tax – will increase by 5.59 per cent.

Burnside Council chief executive Chris Cowley said 624 properties in his district had a valuation increase of 12.5 per cent or higher.

“Council seeks to reduce this impact as far as possible by proposing to cap rates (increases) at 12.5 per cent,” he said.

Salisbury Council said about 1800 properties in its region were affected by the revaluation. It is also proposing a rate cap to support people who receive a rates increase of more than 12.5 per cent. “Based on the most recent data, we expect that 563 ratepayers will benefit from this cap,” a council spokeswoman said.

The average site value in Adelaide City Council has increased a whopping 18.67 per cent, which Valuer-General Katherine Bartolo credited to new development activity in the CBD.

The new calculations have taken into account a separate reappraisal of residential, rural and commercial property values across 24 councils, which has been aimed at improving the accuracy of valuations.

“People are always mostly happy when the value of their property improves it means when they do go to sell they are going to obviously a better price, if they want to source financing they’ve got a greater level of equity in their property,” Ms Bartolo said. “The negative … is the downstream impact in terms of what it means for their rates and charges, but the most important thing is to make sure everything is as accurate as possible.”

Rural land capital and site values increased 13.76 per cent and 12.83 per cent respectively, which Ms Bartolo said was driven by increased demand for country living.

“In terms of rural properties, our state is doing really well in that regard,” she said.

“It sort of bucks a bit of the trend for the rest of the country where you hear regional countries struggling, a lot of our townships are doing quite well and I think that is a good news story.”