Property Valuations

Property Valuations

We revalue 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 2019 to calculate rates for the 2019/2020 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 2019 General Valuation was 0.75%. These valuations were first used 1 July 2019.

Rate valuation changes
Category No. of assessments CIV 2018 $ CIV 2019 $ CIV difference %
Residential 60,309 37,400,115,000 37,590,300,000 0.51
Vacant Sub Standard 332 2,977,000 3,030,000 1.78%
Farm land 1,737 2,241,235,000 2,304,095,000 2.80%
Commercial 2,297 1,846,008,000 1,884,008,000 2.03%
Industrial 1,005 766,604,000 794,122,000 3.59%
Cultural and recreational 13 45,895,000 47,045,000 2.51%
Totals 65,693 42,303,355,000 42,622,600,000 0.75%

 

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?

You can lodge a formal objection within two months of receiving your rate and valuation notice on the following grounds:

  • The value is too high or low

  • The interest in the land held by various people has not been correctly apportioned

  • The apportionment of the valuation is not correct

  • Land that should have been included in one valuation has been valued separately

  • Land that should have been valued separately has been included in one valuation

  • The person named in the notice of valuation, assessment notice or document is incorrect

  • The area, dimensions or description of the land are not correctly stated.

Our valuer will organise an inspection of your property if one is necessary. You will receive a letter that states the outcome of the enquiry, but you will need to continue paying your rates until a decision is reached.  Complete the relevant online form, to lodge an objection:

 

What happens to my objection?

If you choose to lodge a formal objection, a valuer will discuss your objection with you and make a decision. Valuers process objections within four months.

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.

 

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