How your rates are calculated

Council’s rates are calculated using Capital Improved Value (CIV), which is the total market value of the land plus buildings and other improvements.

Council has four rate bases:

  1. general rates
  2. farm rates
  3. industrial and commercial rates
  4. cultural and recreation rates.

The rate in the dollar for the 2022/23 year for Council ’s four rate bases is as follows:

General rate  0.0033174
Farm rate 0.0029857
Commercial / Industrial rate 0.0038482

The rate in the dollar is determined by Council as part of its budget process for the forthcoming year. The formula for calculating general rates, excluding any additional charges or arrears, is:
General rates = Valuation x rate in the dollar

For example, the calculation for a property valued at $650,000 would be:

Capital Improved Value

x

Rate in the Dollar

=

General rates

$650,000

x

0.0033174

=

$2,156.31

More information about how rates are calculated in Victoria is available on the State Government's website