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Property valuations

We revalue your property every two years, as the value determines your property rates.

Property prices as of 1 January 2016 determined the current values, calculating rates for the 2016/2017 and 2017/2018 financial years.

Your rates notice is comprised of three valuations:

  • Site value - the land's market value
  • Capital improved value - the total market value of the land plus buildings and other improvements
  • Net annual value - the current value of a property's net annual rental (gross rental minus all outgoings including land tax, building insurance and maintenance but excluding council rates.)The net annual value must be at least 5% of the capital improved value.

Valuation Changes

The average overall increase in CIV for the 2016 General Valuation was 9.45%.

Category  No. of assessments  CIV 2014 $  CIV 2016 $  CIV difference % 
Residential 52,943

21,651,028,000

23,991,669,000

10.81

Rural 7,719

5,879,427,730

6,256,738,500

6.42

Commercial 2,428

1,520,236,500

1,629,015,017

7.15

Industrial 1,000

795,096,500

803,320,000

1.03

Totals 64,090 29,845,788,730

32,680,742,517

9.45

Valuations were created using mass appraisal techniques, reflecting the market as of 1 January 2016 and do not roll to reflect changing conditions.

Any change to the amount of rates you pay is based on a property's increased value, relative to the increase of other properties value.

Supplementary valuations

If there is a change to your property which results in a change to its value then a supplementary valuation will be done. 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 object to your valuation 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, including the Australian Valuation Property Classification Code (AVPCC) allocated to the land, are not correctly stated.

Our valuer will organise an inspection of your property if one is necessary. You will receive a letter advising you of the outcome of the enquiry, but you will need to continue paying your rates until a decision is reached.

If you would like to make an objection, complete the relevant valuation objection form assigned by property type:

  • Residential property objection form
  • Commercial/industrial property objection form
  • Rural propoerty objection form

Then return to us in person, or via mail as per our contact us page.

What happens to my objection?

Before lodging a formal objection form, we will accept enquiries and try to resolve your valuation questions with the valuer.

If you choose to lodge a formal objection a valuer will discuss your objection with you and make a decision whether to allow it or not. 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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