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Property Valuations

Valuations are carried out by an independent contract valuer on behalf of the council to determine the value of a property. The contract valuer must have a thorough knowledge of sales, rentals and statutory considerations in accordance with government legislation.

Councils are notified of any property sales in the municipality, and information on rentals is obtained from owners, agents and tenants. This information is then analysed and collated so that levels of value can be established for individual areas within the shire.

 

Supplementary Valuations

From time to time, a supplementary valuation is made where the property value has changed substantially due to a new dwelling, a factory, demolition of a building or an extension.

These supplementary valuations are carried out between valuations in order to bring these properties in to line and are based on the same levels of value used for the general valuation. Supplementary rates notices may be issued based on the new valuation during a rating period.

 

Revaluation Periods

Revaluations are carried out every two years to better reflect market relativity. Current valuations are based on values at 1 January 2014 which is a statutory requirement set down by the Valuer-General. The next revaluation will be carried out as at 1 January 2016.

 

Objections to Valuations

A formal objection to a valuation may be made in relation to the value of a property upon the grounds set out in the Valuation of Land Act. Before lodging an objection form, ratepayers are asked to phone 1300 366 244 to speak to a member of the Rates Department.

Rates staff will explain how the valuation was made. Ratepayers who do not believe the valuation to be correct may obtain a 'Notice of Objection to Valuation' form. Rates staff can supply this form which must be completed and lodged within two months of the issue of a valuation notice.

If an objection to a valuation is lodged payment must still be made prior to the due date. Failure to pay rates on time will result in interest being charged.

For further information you may refer to the following sections of the Valuation of Land Act 1960:

  • Who can object - Section 16
  • Grounds for objection - Section 17
  • Time within which you must lodge an objection with the council - Section 18B
  • How objections are dealt with - Section 21(2)
  • The appeals process - Section 22.

To view the Act online go to Victorian Legislation and Parliamentary Documents, select Victorian Law Today and enter the name of the Act.

 

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