Property valuations are used to calculate how much you pay in rates. Government legislation requires the Council to assess the value of all properties every two years. These values are then used in the striking of rates to fairly distribute rates and charges. The valuations shown on your rate notice have been reviewed and are based on the value of your property as at 1st January 2016.
Council uses the Capital Improved Value method to determine your rates. Capital Improved Value (CIV) is basically the market value of the land and improvements, ignoring the added value of chattels, fixtures and fittings. Property values are determined by analysis of market sales and rental evidence. The valuer builds a profile of value levels for each different area/property type by analysis of recent sales and leasings. This information is then applied to individual properties, taking into account the different characteristics of each property.
Date of valuation
All properties were revalued for use by Council in the 2016 - 2017 rating year. These values remain in force until 30th June 2018. When something has changed the value of the property, valuations must be performed between general valuations. These are known as supplementary valuations and may be performed at any time of the year.
If you feel that your property is incorrectly valued contact the Council’s Valuers to discuss the matter. If their response does not completely satisfy you, they will provide you with the information on how to formally object against the valuation. Any formal objections must be lodged within two months of the date of issue of the rate notice. Late objections will not be accepted. For Valuation Objections, please contact us on: 5950 1090.
If you object to a valuation you still must pay the rates by the due date. Failure to pay rates will incur interest. The State Revenue Office also uses Council’s Site Valuation indicated on your Rate & Valuation Notice for the purpose of assessing land tax. The current site value of your property will be used for Land Tax in 2017 and 2018.