Why properties are valued
Your rates are calculated based on the value of your property. Property valuations allow Council to determine the rates and charges on individual properties.
It also gives property owners an opportunity to keep in touch with the current market value of their property.
Redevelopment, subdivisions and new homes and buildings increase the number of rateable properties in the municipality. With more rateable properties, the costs of services is shared by more properties paying rates.
How often are properties valued
State legislation requires all properties within Victoria to be revalued at least once every two years.
2016 was a revaluation year. The average increase in property value across Moreland in 2016 is around 19%.
The 2016 revaluation bases property values as at 1 January 2016, and applies to the 2016-17 and 2017-18 rating years.
How properties are valued
Qualified valuers analyse all sales that occur between revaluations to determine levels of value. This is then applied to each individual property in Moreland.
The valuation of a property is based on:
- its location
- site details, such as land classification, zoning and land area
- site influences, such as the shape of the site, topography, nearby uses, encumberances, easements and multi frontages
- the building, its size, age, condition and style and construction type, and
- the highest and best use of the site.
How are my rates calculated?
Moreland City Council uses capital improved value (CIV) as its valuation base to calculate rates.
To work out your rates, we first need to add the total value of all properties in Moreland.
We then work out the balance of the total cost to provide all your services. In 2016, the cost is $123.5 million. We divide this cost by the total value of properties, giving us the ‘rate in the dollar’.
This means that for every dollar of value of your property, you pay 0.2527 cents in rates.
So, if your house has a capital improved value of $500,000, this year you will pay $1263.50 in rates, excluding additional charges or arrears:
Capital improved value = $500,000
Residential rate in the dollar = 0.002527
500,000 x 0.002527 = $1263.50
If your property is vacant or unoccupied, see the vacant land differential rate.
In certain circumstances, property valuations must be undertaken between general valuations.
These are known as supplementary valuations and are required when properties are
- physically changed, for example, when buildings are altered, erected or demolished
- rezoned, or
- portions are sold off.
Council conducts supplementary valuations every month.
If a supplementary valuation is carried out on your property and the property value changes, you will be sent a revised rates notice.
Objecting to a valuation
You can object to the valuation of a property within two months of the rates and valuation notice being issued by Council. This is outlined in the Valuation of Land Act 1960.
When you object, the property valuation assessment is reviewed and a decision made.
Lodging an objection or appeal against a valuation assessment does not prevent rates from being paid. Any instalment that is due must still be paid by the due date.
For further information contact Council. We are happy to discuss any concerns or queries you have about a property valuation.
The Moreland rates brochure (PDF 1Mb) includes information about property valuations.
Appealing the rates charged
Under the Local Government Act 1989, a ratepayer has the right of appeal to the County Court if they are aggrieved by the rate, only in the following circumstances:
- The land in respect of which the rate was declared was not rateable land
- The rate charge was calculated incorrectly, or
- The person levied with the rate or charge was not liable to be rated.