Property valuations

Property valuations are used to calculate how much you pay in Council rates. As of 2019 the State Government reviews valuations of all rateable properties annually. These values are then used in the setting of the rates.

How are valuations determined?

Valuations are prepared by contract valuers in accordance with the requirements of the Victorian Valuer General’s ‘Valuation Best Practice Guidelines’. The valuers are required to provide the following three valuations:

  • Capital Improved Valuation (CIV) – the value of vacant land and any capital improvements (e.g. buildings).Note: CIV includes SV 
  • Site Value (SV) - The land’s market value ( without any improvements)
  • Nett Annual Value (NAV) – Estimate of annual rental income property would generate

All valuations are prepared as at 1st January (e.g. 1st January 2018).  For example, the valuer analyses sales of similar properties in the period of July 2016 to December 2018 to determine the market value of the property as at 1st January 2018. The resulting valuation is then reviewed in January-March against sales occurring in that period to ensure the level is correct. Valuation of commercial properties is more complex and also considers the income generating capacity of the property.

The valuations are submitted to the Valuer General for review during the preparation phase and are required to be signed off as being ‘generally true and correct’.

Annual Property Valuation Flyer(PDF, 701KB)

Supplementary valuations

If there is a change to your property which results in a change to its value then a supplementary valuation will be undertaken. 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 the date of issue of your rate and valuation notice.

No late objections can be considered.

If you would like to lodge an objection, complete the relevant valuation form assigned by property type at the bottom of this page.

You can return this form in person to one of Council’s customer service centres, or via mail. The details can be found on our contact us page.

 Valuation-Objection-form-Farms.docx(DOCX, 33KB)

Valuation-Objection-form-Residential.docx(DOCX, 32KB)

Valuation-Objection-form-Commercial.docx(DOCX, 34KB)