Changes to Capital Improved Value
The Valuer-General Victoria is the sole valuation authority and conducts annual valuations for rating and taxation purposes.
For the 2020/2021 rating year the valuations are relevant as at 1 January 2020. Any market changes due to COVID-19 will be applicable to future revaluation cycles. This means that rate notices for 2020 will be based on valuations prior to the pandemic.
If you are not satisfied with your valuation you may lodge an objection within two months of the date of your annual rate notice. Refer to the back of your rate notice or see below for more information.
What is My Property Valued At?
Your rating valuations are displayed on your Council rates notice, just below the property details. Please refer to the Understanding Your Rate Notice page for further details regarding the information on your rates notice.
Three types of valuation information for your property are returned to the Council through a Revaluation:
- The Site Value (SV) is the market value of the land only;
- The Capital Improved Value (CIV) is the total market value of the property, which includes the Site Value plus the value of buildings and any other improvements. Your general rate and your FSPL variable charge are calculated from your property's CIV;
- The Net Annual Value (NAV) is the value of your property's net annual rent, and by law must be at least five per cent of the CIV.
You may object to a valuation in relation to the value of a property or on other grounds (including the AVPCC) as specified in the Valuation of Land Act 1960. Refer to the Valuation Objections section below for further information.
How Is My Property Classified for Valuation Purposes? What is an AVPCC?
The Council's contract valuers have assigned an AVPCC (Australian Valuation Property Classification Code) to your property, according to the use of your land. As determined under the provisions of the Fire Services Levy Property Act 2012, the AVPCC is used to derive your property's land use classification. The AVPCC and land use classification assigned to your property are displayed on your Council rates notice, just below the property details. Please refer to the Understanding Your Rate Notice page for further details regarding the information on your rates notice
For further explanation of what the AVPCC displayed on your rates notice means, you may download a list of the current AVPCCs.
Updated for 2020/2021
To work out how much each property is worth, the valuer analyses property sales and rental data trends, as well as other factors such as: the highest and best use of the land; house value and other site improvements; land shape, size and location.
The Objection process remains unchanged. Please see Valuation Objections section below.
Valuation Myths and Facts
A council budget determines how much a council collects in rates - property valuations are revenue-neutral for councils:
MYTH: Councils generate extra revenue as property values are increased or are revalued.
FACT: Valuations effectively change the mix: some ratepayers will pay more and some will pay less, depending on the new value of their property relative to other properties in the municipality.
Rental Questionnaires - 2020 Revaluation
If you are the owner or occupier of a commercial or industrial property, you may have recently received a rental questionnaire. Completion of this questionnaire in as much detail as possible assists our valuers in determining fair and equitable property valuations for the 2020 Revaluation, and you are obliged under Section 3A of the Valuation of Land Act 1960 to provide the information to the best of your knowledge.
The valuer will treat all information collected in the strictest confidence. The information is not provided to Council or to any third party, but is used by the valuer for market analysis purposes and will form part of the supporting documentation provided to Valuer-General Victoria on completion of the 2020 Revaluation.
As a simple and quick alternative to the hard-copy questionnaire, you may complete the online rental questionnaire on the contract valuer's website.
If you have any questions or concerns regarding the rental questionnaire, or are having difficulties completing the form, please contact LG Valuation Services Pty Ltd on 03 5851 2200.
You may object to a valuation in relation to the value of your property or on other grounds (including the AVPCC) as specified in the Valuation of Land Act 1960, if you are dissatisfied with the determination provided by the valuer.
A formal objection must be made within two months from the "Date of Notice" as shown on your Council rates notice, and must be submitted on the relevant objection form (available for download below). The legislated time frames set out in Section 18 of the Valuation of Land Act 1960 are obligatory. Neither Valuer-General Victoria nor a municipal council has the power to review the objection if it does not fall within the statutory time limit.
For further information about appealing against your valuation, please contact the Council on 03 5832 9700. Before lodging a formal objection, you may wish to refer your enquiry directly to LG Valuation Services Pty Ltd; they can be contacted by phone on 03 5851 2200.
The required forms to lodge a formal objection can be obtained from the links below.
If you lodge a valuation objection, you must still pay your rates by the due dates as set out on your original rate notice. Failure to pay rates by the required date will result in interest being charged.
Upon lodgement of a valuation objection with the Council, the valuer has four months to make a recommendation or disallow the objection. A valuer may contact you to discuss details of your property and may arrange an inspection of your property to reappraise the rating valuations. You may also be given the opportunity of an appointment to discuss your objection with a valuer.
If a recommendation (ie. a change of values) is made, Valuer-General Victoria then has a further two months in which to approve or reject the recommendation.
Please note: Receipt of a recommendation notice from the valuer does not constitute acceptance of the new valuation - Valuer-General Victoria must still approve the recommendation before any changes are made to your rating valuations.
In certain circumstances, valuations must be performed between general valuations. These are known as supplementary valuations. They are required when properties are:
- physically changed (for example, when buildings are altered, erected or demolished)
- consolidated, subdivided, or portions sold off.
Supplementary valuations bring the affected properties into line with the general valuation of other properties within the municipality, and are assessed at the same date of the general valuation currently in use. Supplementary valuations and notices are processed and issued quarterly.
If you are dissatisfied with your supplementary valuations as determined by the valuer, you are entitled to object to the valuations as per the objection process outlined above.