DUBBO, Gilgandra and Coonamble had some of the biggest increases in land values in the past financial year, according to new figures from the NSW Valuer General Simon Gilkes.
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Gilgandra's median residential land value increased by a whopping 30 per cent in the year to July 1, 2014, to $19,500.
Coonamble's jumped by 20 per cent to $25,200, while Dubbo experienced a 19.45 per cent increase to $113,000.
There were 22 local government areas (LGAs) where residential land values fell in the same period, with Cobar experiencing the biggest drop (10 per cent).
The lowest median land value in NSW was in the Wilcannia-based Central Darling Shire ($1200).
Across NSW, land values had increased by more than 11 per cent, Mr Gilkes said.
"Almost 2.5 million residential, rural, business and industrial land values for properties in NSW were assessed," he said.
"Property sales are the most important factor considered when determining land values and valuers analysed over 43,000 property sales across NSW as at July 1, 2014."
The biggest overall market trend had seen increases for land values mainly occur in the Sydney basin, Mr Gilkes said.
In Sydney, Willoughby, Bankstown, Hornsby, The Hills Shire, Canterbury, Marrickville, Warringah and Manly experienced the highest increases in median residential land value. No metropolitan LGAs experienced falls in median land values.
In the coming weeks more than 882,000 notices of valuations would be sent to ratepayers in 45 LGAs, showing the value of residential, rural, business and industrial properties based on market conditions as at July 1, 2014, Mr Gilkes said.
He said the latest land values would help 45 local councils determine the amount of council rates landholders would pay, but while they were important, they were not the only factor councils would use to determine rates.
"Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates," he said.
Mr Gilkes said the land values were prepared by valuers contracted from 17 firms across NSW.
"The values are then subject to rigorous quality assurance including statistical testing by the University of Western Sydney," he said.
About 0.1 per cent of notices of valuation needed to be adjusted following 2013 valuations, Mr Gilkes said, and landholders concerned about their notices of valuation could lodge objections to have them independently valued.
