How is the UV determined on rural land?
Land outside town sites (in general, rural land, unless otherwise gazetted by the Local Government) is valued in its original natural state. The UV may consider degradation of the land and any services or amenities which may add value.
Land used for cropping or grazing, the UV is determined as a percentage of the value of the land (the percentage is prescribed by regulation by the Valuer-General from year to year and is currently set at 50 per cent).
There are certain exceptions where the UV is based on a statutory formula, such as a fixed rate per hectare or a multiple of the annual rent. These exceptions include mining tenements, leases under the Land Administration Act 1997 for the purpose of grazing, leases under agreement acts, and land held under the Conservation and Land Management Act 1984.