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 on an annual basis.
The current value of your property is shown on the first rate and valuation notice issued by council each year.
Northern Grampians Shire 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.