RV’s – a reliable value indicator or not?
As agents we constantly get asked what the RV (or GV) is on a property. The RV is the Rating Valuation – a figure which the local council uses to set the rates payable each year on a property. The RV is generated by the council based on the Land Value and Improvements (buildings) Value of the property. The land value is relatively easy to calculate based on recent sales similar to the subject property, however improvements are trickier. The assessors aren’t generally aware of the...
Tue 18th Aug 2015Full post