A report to an inquiry into the state's land valuation system has found there is a huge amount of volatility, affecting valuations year to year.
Consultants have analysed every land valuation in New South Wales over the last decade, finding in the Central West, between 2000 and 2011, just over 70 properties had growth higher than 20 times their value.
Inquiry Chairman, Liberal MP Matt Kean has visited landholders around Mudgee, whose complaints about council rates, partly led to inquiry's establishment.
Mr Kean says the analysis forms part of a committee report, due to be released this week.
"The report's found there is huge instances of volatility so that landowners will experience material swings in their valuations year on year," he said.
"The problem with that is that it makes it difficult to predict the impact of your valuation, indeed the taxes you're required to pay based on those valuations."
Mr Kean says he would like an averaging of council land valuations, so extreme high and low notices can be avoided.
He says the inquiry committee plans to report back to parliament next month.
"Landowners want certainty and predictability in the system and it's certainly not lending itself to those outcomes at the moment," Mr Kean said.
"One measure I think that would be a good idea would be developing the valuations over a period of time to smooth those peaks and troughs which lead to distortions in the taxes people pay."
Read the full article from the ABC here.
