Property Valuations

Property Valuations

The Valuer General Victoria (VGV) revalues your property every year. The value of your property determines your rates. Changes to your rates are based on your property value relative to the value of other properties in your area.

Council does not generate extra revenue as property values increase or are revalued.

Increased property value does not increase the amount of rates collected but redistributes the amount paid between individual properties.

We use property prices from 1 January 2021 to calculate rates for the 2021/2022 financial year.

There are three different valuations on your rate notice:

  • Site value
    The land's market value

  • Capital improved value (CIV)
    The total value of the land plus buildings and other improvements

  • Net annual value (NAV)
    The value of a property's annual rental minus expenses. Expenses include land tax, building insurance and maintenance but does not include council rates. The net annual value must be at least 5% of the capital improved value.

Valuation changes

The average increase in CIV for the 2020 General Valuation was 3.99%. These valuations were first used 1 July 2021.

Rate valuation changes
Category No. of assessments CIV 2020/2021 $ CIV 2021/2022 $ CIV difference %
Residential 61,174 38,873,286,50 40,572,199,500 4.37
Vacant Sub Standard 331 2,559,500 3,310,000 29.32
Farm land 1,688 2,375,942,500 2,497,492,500 5.07
Commercial 2,300 2,000,567,000 1,930,935,002 -3.48
Industrial 1,033 837,127,000 853,647,500 1.97
Cultural and recreational 13 48,825,000 46,075,000 -5.63

 

Supplementary valuations

We will conduct a supplementary valuation if there is a change to your property which results in a change to its value. These changes include:

  • Construction of new buildings

  • Additions to buildings

  • Improvements such as farm sheds, swimming pools etc

  • Subdivision or consolidation of land

  • Realignment of property boundaries

  • Change in land use

Supplementary valuations are prepared each month to ensure our data is up to date and you are paying accurate and fair rates. You will receive a supplementary rate and valuation notice if your property has undergone any of these changes.

What if I don't agree with my valuation?

Valuations used on your 2021/2022 rates notice were calculated based on market levels on 1st January 2021. Any changes in market levels since date will not be considered when evaluating any objection. 

Log an enquiry 

If you believe your valuation or the fire services property levy classification is incorrect, you can lodge an enquiry for Council to review your valuation within one month of issue.

Lodge an enquiry

Log a formal objection

You can lodge a formal objection with the Valuation Authority (Valuer General of Victoria) within two months of the issue date of your Annual Valuation and Rate notice or any subsequent Supplementary Valuation and Rate Notice on the following grounds:

  • that the value assigned is too high or too low;
  • that the interests held by various persons in the land have not been correctly apportioned;
  • that the apportionment of the valuation is not correct;
  • that lands that should have been included in one valuation have been valued separately;
  • that lands that should have been valued separately have been included in one valuation;
  • that the person named in the notice of valuation, assessment notice or other document is not liable to be so named;
  • that the area, dimensions or description of the land including the Australian Valuation Property Classification Code (AVPCC) allocated to the land are not correctly stated in the notice of valuation, assessment notice or other document.

A valuer representing the Valuer General of Victoria will organise an inspection of your property if one is necessary. You will receive a replay that states the outcome of the enquiry, but you will need to continue paying your rates until a decision is reached. Any change in the Valuation and AVPCC may result in a change in both the General Rates and Fires Service Property Levy charged.

 

Complete a property valuation objection

If you are unable to lodge your objection online please contact 1300 368 333 to have a copy of the form forwarded to you for completion

What happens to my objection?

Once you have submitted your valuation objection, the Valuer General will seek confirmation from Council that your objection was submitted within the required statutory time frame. At this point Counci will email you an update on the status of your objection.

The Valuer General's office have 4 months from the time you have lodged your objection to provide you with a response.

A valuer may wish to discuss your objection with you to make a decision.

You can appeal to VCAT or the Supreme Court if you are unhappy with the decision.

Visit the VCAT Website for more information about lodging an appeal.