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Definition of government valuation in English: government valuationnoun Australian, NZ The process of determining the monetary value of a property, carried out periodically by an official body. a government valuation once put the building's worth at more than $5 million Example sentencesExamples - The New Zealand Historic Places Trust was offered the property at the government valuation price of $240,000, but was unable to make the purchase without delay.
- In some areas, land values jumped by more than 100 per cent in the latest round of Government valuations, effectively meaning Council's ordinary rate also doubled.
- We sold a family property south of the Bombay Hills two years ago, when sale prices were pretty much set by the then current Government valuation (about $520,000 in our case).
- The insurance industry is signalling a move to fixed-cover policies, with future cover likely to be based on Government valuations, Radio New Zealand reports.
- When a reserve contribution was assessed on a piece of land I had, its value was ascertained by the Government valuation of the total piece of land, divided by the square metreage of the area of the whole block.
- We had two or three offers through agencies around or slightly above the Government valuation.
- She says she will lose money on her home - which has been renovated since the last government valuation in 2007 - but fighting the Government is not worth it.
- Mr Harcombe said the government valuation was around $137,000 but this perhaps did not reflect the true value of the property.
- Local media have reported that the couple offered $NZ16 million ($14.8 million) for the property - four times a government valuation for the property.
- The house was what real-estate agents optimistically describe as a do-up, with a government valuation of $200,000.
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