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 annually. All properties in the State are therefore valued at a common date, currently 1 January 2018 and these values are used to calculate rates for the 2018/2019 year.
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.