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Council Valuations

Properties are valued state wide, each year at 1 January.  Valuations are completed under the requirements of the Valuation of Land Act 1960.  The Valuer-General Victoria is now responsible for all valuations.  Valuations are largely influenced by property sales and rentals in the area.


All properties in East Gippsland Shire were last valued on 1 January 2020. The next valuation date will be 1 January 2021. 


The valuations from 1 January 2020 are used in the calculation of the 2020/2021 rates


More information on centralised annualised valuations is available on the Valuer General website.


Capital Improved Value (CIV)

This is the assessed market value of your property, including the land value and all improvements such as a house, fencing, sheds, pasture improvements etc.  The CIV is used to calculate your rates and the variable portion of the Fire Services Property Levy.


Site Value (SV)

This is the value of the land in its natural state. It is used by the State Revenue Office to calculate land tax.


Net Annual Value (NAV)

Estimated value if you rented out your property.  This is not used by Council or the State Revenue Office, but the Local Government Act 1989 requires it to be shown on the valuation and rate notice.


Impact of valuation changes on rates 

Increased property values do not increase the total amount of money a council collects in rates, it redistributes the amount of rates between individual properties. 


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.


Council's budget determines how much is collected in rates, taking into account the Victorian Government Rate Cap.


What if I do not agree with my valuation?

You have the right to object to the valuation applied to your property.


There are a number of specific grounds on which you can object, for example: valuations are too high or too low or the incorrect Australian Valuation Property Classification Code (AVPCC) has been applied etc.


How do I object?

You need to fill in an Objection Form and return to Council within two months of the date your rate notice was issued. This is called the Date of Issue and is shown on your notice (Annual or Supplementary).


You also need to provide a short summary of the reasons you believe your valuation is incorrect.

To get an objection form, or for more information on valuations, please contact Council on 03 5153 9500. 


Do I still need to pay my rates by the due date?

Yes.  Even if you have lodged an objection to a valuation you must still pay rates by the due date.


Failure to pay rates may result in interest being added and recovery action and legal costs.


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