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 2022 to calculate rates for the 2022/2023 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 2022 General Valuation was 22.21%. These valuations were first used 1 July 2022..

Rate valuation changes
Category No. of assessments CIV 2021/2022 $ CIV 2022/2023 $ CIV difference %
Residential 61,713 40,572,199,500  49,858,476,500  22.89%
Vacant Sub Standard 328 3,310,000 13,369,000 303.90%
Farm land 1,640 2,496,492,500 2,992,162,500 19.85%
Commercial 2,309 1,930,935,002 2,114,858,005 -9.53%
Industrial 1,038 853,647,500 1,067,285,000 25.03%
Cultural and recreational 13 46,075,000 51,200,000 -11.12%


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?

The Valuation Authority for Yarra Ranges Council is the Valuer General of Victoria (VGV). All valuations are completed by the VGV appointed valuation contractor.

Valuations used on your 2022/2023 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. 

Lodge 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.

The timeframe to object to valuations provided in your 2022/2023 Annual Valuation and Rate Notice has not yet started.

Your next opportunity to object will be:

  • When you receive your 2023/2024 Annual Valuation and Rate Notice, to be issued in August 2023 

  • Or if you receive a subsequent Supplementary Valuation and Rate Notice during the 2022/2023 financial year, you can lodge a formal objection with the Valuation Authority (Valuer General of Victoria) within two months of the issue date on the Supplementary Valuation and Rate Notice

To object to a Supplementary Valuation and Rate Notice you have received please visit Victoria Government's Rating Valuation Objections Portal.

You can object 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.


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 Council 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.