Property Valuations

Calculation Finance

The Property Valuation is used to calculate how much you pay in Council rates. Government legislation now requires every Council to revalue all properties within their municipality every two years. This means that all properties in the State are valued at a common date, currently 1 January 2016 and these values are used to calculate rates for 2016/17 and 2017/18.

The current value of your property is shown on the 1st Rate and Valuation Notice that Council issues each year.

This Council uses the Capital Improved Value to determine your rates. The Capital Improved Value is the market value of the land and all improvements, but not the added value of chattels, fixtures and fittings.

Determining the Valuation

To determine property values throughout the Shire, a qualified valuer is contracted and engaged by Council.

The valuation process assesses the amount that a property would sell for at a specific date. The latest property sales, rental data, land type, building condition and all property improvements are analysed as part of the valuation process.

A profile of value levels for each area and property type in the Shire is then constructed and applied to individual properties.

Objecting to the Valuation

If you believe that your property is incorrectly valued, you may lodge an objection on the forms provided below:

The objection must be lodged within two months from the date of the 1st rate notice in any year or within two months from the issue date of any supplementary rate and valuation notice.

Further information regarding lodging an objection to a property valuation can be obtained by contacting the rating department on Email: rates@ngshire.vic.gov.au