When Bryan Hardy bought his land in Craigend Street, Leura, in 1971 it was only $800.
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This year the NSW Valuer General has valued it at $1.2 million.
It means when the next council rates bill comes, he knows he's in for a horror show.
"I'm still wondering how this block with a mains sewer line from back to front and deemed partially flood-prone can be worth $1,200,000 when two-and-a-half years ago it was valued by an independent valuer at $600,000," he said.
"It's a good investment for a purchase price of $800 in 1971, but now I may have to consider selling if I can't afford council rates."
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Mr Hardy has seen steady increases in the Valuer General's valuations. The valuations come every three years. Back in July, 2013, it was valued at $360,000.
The 80-year-old plans to lodge an objection, just as he did in 2019. That time it was reduced after a reviewed valuation to $600,000.
The Valuer General is an independent statutory position.
Any objections need to be lodged within the allowed window - 60 days after receiving your valuation. Valuation NSW will have it reviewed for free. The back of your valuation notice advises how to lodge an objection.
Even though council doesn't get any more money when valuations change, rates are linked to the hikes.
"It would appear most Leura residents have had a 100 per cent increase. The council base their rate charges on this valuation, hence expect a significant rise in your next rate notice," Mr Hardy said.
He said it is disappointing because federal and state policy appear to be in conflict.
"The federal government is trying to keep the elderly in their homes as long as possible and out of nursing homes (to save them money) while the state government appears to be trying to price them out of their homes through higher costs of living though higher rates."
Mr Hardy said the Valuer General's increase to his $1500 square metre block makes him think of the line from the movie The Castle - "Tell Him He's Dreaming".
A spokesperson for Valuation NSW said residential land values in the Blue Mountains Local Government Area experienced "very strong increases due to property market demand outstripping supply in the LGA between July 2021 to July 2022".
Their professional contract valuers were "familiar with the local area" and "much of this demand was driven by purchasers seeking larger properties to accommodate work from home arrangements, and those migrating to relatively more affordable outer suburban and semi-rural locations. Interest rates had also remained at historically low levels for the majority of the year."
Mr Hardy's home was once the site of a village landmark, Leura's whale hedge, but the hedge succumbed to disease in 2019 after 46 years.
