If you live in a rural area, it is possible that your neighbour’s land was valued using a different method to yours. For example, your land may be non-rural land and valued using site value, while your neighbour’s may be rural land and valued using unimproved value.
Your neighbour’s land may have different physical characteristics that affect its value. For example, your neighbour’s land might have poorer views, steeper topography or inferior access.
Land adjoining your land may be subject to different constraints as a result of local government planning schemes, encumbrances registered on title and other legislation. For example, your neighbour’s land may have a registered easement, be subject to flooding or have vegetation clearing restrictions, all of which can reduce the value of the land.
Your neighbour’s land may be used for a different purpose to your land (e.g. residential vs commercial use) and so will have a different land value.
In some circumstances, concessional valuations provided for in the Land Valuation Act 2010 may have been granted that reduce the value of land.