How your property is valued
Valuations
Local councils in Victoria use property values as the basis of their rate collection. The rates paid by householders and businesses help fund the services Council provides for the local community.
Because property values change, Council is required to carry out a general revaluation on all properties every year under the supervision of the Victorian Valuer General. Assessing the value of all properties is on the same date.
Only qualified valuers, with recognised tertiary qualifications and relevant experience, perform municipal valuations. They operate under the highest professional standards and ethics. For example, all valuers must declare impartiality before undertaking valuations and undertake to perform all valuations to the best of their ability and judgement.
Supplementary valuations
In certain circumstances, valuations must be performed between general valuations. These are known as supplementary valuations.
For example, they are required when properties are:
- physically changed (eg when buildings are altered, erected or demolished)
- amalgamated
- subdivided
- portions sold off
- rezoned
- affected by road construction.
How to object to your valuation
You may object to a valuation. The objection can be made in relation to the value of a property or on other grounds specified in the Valuation of Land Act, Division 3. To lodge an objection, you must:
After receiving an objection, a valuer must discuss the matter with the objector, then make a decision within two months of the objection. If not satisfied with the decision, the objector may appeal to the Victorian Civil & Administrative Tribunal (VCAT), or to the Supreme Court.
If you object to a valuation, you still must pay rates on the original notice by the due date 15 February. Failure to pay rates by the required date results in interest being imposed. Once the appeals process is complete, the rate notice will be adjusted to reflect any changes and any overpaid amounts will be credited on the new rate notice.
For further assistance, contact Council’s Rate Unit on 5481 2200.