Why does Council do revaluations?

The Council is required by the Valuation of Land Act 1960 to revalue all rateable properties within the municipality on a two yearly cycle. All properties in Victoria are valued simultaneously.

The revaluation process establishes the method which distributes the total rate burden amongst individual rateable properties. Depending on how an individual property valuation has moved in relation to other properties will determine how much the individual property will contribute to the total rates required.

Revaluations ensure that both the Council and State Government recognise the changes that occur in the property market, both positive and negative, and that these changes are reflected in the level of rates or land tax a landowner will pay.

Does a revaluation cause rate rises?

The revaluation does not in itself generate more rates. The Council budget determines how much a council collects in rates – not the property valuations.

The revaluation will redistribute the rate burden between properties and between classes of property. Some ratepayers will pay more and some will pay less, depending on the new value of their property relative to other properties in their municipality.

Accurate and consistent property valuations will ensure an equitable distribution of rates between rateable properties.

Can ratepayers object to a valuation?

Yes, any ratepayer can object to a valuation. Information about lodging an objection is issued with rate notices.