A property value is made up of three components:
This is what your property might have sold for at the date of valuation. It does not include chattels, stock, plant, crops, machinery or trees.
Residential properties include GST, other property types do not.
This is the most likely selling price of the bare land at the date of valuation.
The Land Value includes any development work which may have been carried out, such as draining, excavation, retaining walls, levelling, clearing of vegetation, or protection from flooding.
Value of improvements
This is the difference between the capital value and the land value. It reflects the value of the property's buildings and other structures.