RATE RISE: Landgate's revaluation of this dental surgury and medical centre on the corner of Townview Terrace and Forrest Road estimates that its annual gross rental value has jumped from $40,000 to $70,000 in three years.
A JUMP of more than $3500, or 69 per cent, in the full amount he has to pay on this year’s rate notice for his commercial Townview Terrace, Margaret River, property has sent Mario Azzopardi into shock.
“The bottom line on my rates notice has gone from $4900 to $8439, that’s 69 point something per cent – it’s the biggest increase I’ve ever seen,” he said on Monday after receiving his rate notice dated August 3.
Mr Azzopardi owns the dental surgery and medical centre at 79 Townview Terrace and a house in Margaret River.
“The rates on the house have gone up a bit but it is the commercial property rates that are unbelievable,” he said. “I’m concerned for my tenants. Because it’s a commercial property they pay the rates.
“Under the ‘Commercial’ heading on my rates notice, the amount has gone from $4307.88 to $7505.23.”
Mr Azzopardi said he rang the council to query the rates notice and was told the jump was the result of a property revaluation by Landgate after three years. He said he was being sent an information pack and would consider challenging the new valuation on his property.
“They say the (gross rental) valuation on my property has jumped from $40,000 to $70,000.”
Council chief executive Gary Evershed said the average increase in commercial GRV was 4 per cent but there were valuations above or below average within the category.
“The Valuer General feels that there has been a significant increase over the past three years in the gross rental value of the property in question,” Mr Evershed said.
He said Landgate, which does the property valuations every three years, had estimated the weekly gross rental valuation on Mr Azzopardi’s property had risen from $780 to $1350 since the last revaluation
“This indicates the VGO’s (Valuer General’s Office) recognition that property in Margaret River zoned Town Centre attracts a higher rental potential than previously. This is in keeping with the fact that main street rentals have been steadily increasing over time as a market indicator.
“At the end of the day rates are apportioned based on the property valuation within their rate category. Given this person’s large increase maybe they have been previously undervalued and therefore (it) could be argued that previously they have not being paying enough rates,” Mr Evershed said.
He pointed out that the back of the rates notice contains information on Landgate’s valuations and how to object if you think your property has been over-valued.
