Somerset Council forced to pay $116K for incomplete service
Somerset Regional Council is one of the fortunate councils who will receive land valuations this year.
At Somerset Regional Council's first meeting of the year, Finance Director Geoffrey Smith said council paid $116,000 annually, regardless if a valuation was carried out or not.
"Council has asked consistently that valuations are done each year," Mr Smith said.
"It will be interesting to see what the impact of the previous year will have had on property prices."
In council's minutes, it was confirmed that the Department of Resourced would undertake an annual land valuation, expected to be completed by March 31.
The last time Somerset Regional Council received a land valuation was completed in 2019.
Mr Smith said five property searches had been submitted to council on Wednesday.
"Things are really moving along in the property market," he said.
Somerset councillor Cheryl Gaedtke said it was a great outcome.
"I'm aware other councils haven't been as fortunate with the undertaking on an annual basis," she said.