Capital Improved Value (CIV)

This reflects the total rating valuation of the property, including the land and all improvements.

Examples of improvements include, but are not limited to:

• buildings
• fences
• sheds
• pasture improvements

We use the CIV to calculate your rates and the variable portion of the Fire Services Property Levy.

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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.

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Net Annual Value (NAV)

This is the estimated value if you rented out a commercial or industrial property.  We do not use this information, but it needs to be shown on the rates notice as a Local Government Act 1989 requirement.

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No, rating valuations do not reflect today's current market conditions.

Rating valuations only reflect market conditions on 1 January each year.

Due to market movement from the valuation date, market conditions can vastly change.

Rating valuations are established at a set date in time as directed by legislation, so it’s important to be aware that the valuations do not move or roll with the current market conditions today.

Rating valuations are not the same as a:

• Market valuation - which is done at the date of the valuation report or instruction
• Mortgage valuation - which is done for financial loaning and lending purposes
• Property appraisals (a real estate agent's opinion of value, which is not a qualified or certified - valuation by analysis).

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The Valuer General Victoria provides the valuations to Council each year for the purposes of calculating rates. If you do not agree with your property’s valuation you have a right to put in an objection.

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

Council uses the Capital Improved Value (CIV) for the calculation of rates.

The State Revenue Office uses the Site Value (SV) to assess land tax.

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You have two months to object

Objections must be lodged within two months from the date of issue shown on your valuation and rate notice. You will need to provide details of why you consider the valuation is incorrect.

You can lodge your valuation objection directly to the Valuer General Victoria.

If you prefer, you can lodge an objection in writing. You will need to contact us for an objection form and ensure that it is completed and returned to us within the two-month timeframe.

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Land Tax

Objections to a valuation used for land tax must be made directly to the State Revenue Office.  Further information on land tax can be found on the State Revenue Office website.

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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.

If you do not pay your rates, interest may be charged. You may also receive other costs relating to debt recovery and legal costs.

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In certain circumstances, a property valuation may be conducted outside the usual schedule. Known as supplementary valuations, they are required when properties are:

• Physically changed - for example, when buildings are altered, erected or demolished; or
• Amalgamated, subdivided, portions sold off or rezoned.

Depending on what has changed about the property, supplementary rates may see a decrease or increase in the value of the property and the rates you need to pay.

Values are assessed at the prescribed date of the general valuation currently in use.

A supplementary valuation notice will state the revised valuations and subsequent rate adjustments.

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