Supplementary Valuation
A Supplementary Valuation is a property valuation performed between general valuations.
A supplementary valuation is required where a property is:
- physically changed - for example, when buildings are altered, erected or demolished; or
- amalgamated, subdivided, portions sold off, rezoned or are affected by road construction.
Supplementary valuations bring the value of the affected property into line with the general valuation of other properties within a municipality. Values are assessed at the same date of the general valuation currently in use.