Market value, not replacement value
The state pays what a willing buyer would pay a willing seller on the open market. Sentimental value, development potential outside current zoning, and what you paid are not factors.
Comparable sales
The valuer looks for recent sales of similar farms in the district, adjusts for size, water, and improvements, and derives a value per hectare for each land use. We maintain our own register of completed sales to support this step.
Land use and water
Irrigated land, dryland arable, grazing, plantation, and waste are valued separately. Registered water use lifts irrigated land materially, which is why we verify registrations early.
Improvements
Houses, sheds, parlours, packhouses, fencing, and water infrastructure are valued at depreciated replacement cost. An inventory with ages and conditions helps the valuer and protects you from undervaluation.
Biological assets
Cane ratoons, timber compartments, and orchards are valued on age and yield. Records of planting years and production are essential.
Supporting a fair figure
Complete records, an independent valuation, and a clear brief to the valuer. Where the state's figure is below the evidence, we respond with a reasoned counter.