Valuations

In simple terms, a valuation is an assessment of the amount a property would sell for on a set date.

All properties in the Shire will be valued every year in accordance with Valuation Best Practice Principles determined by the State Valuer General.

Valuations that will appear on your rate notice are based on levels of value as of 1 January 2023.

Values are determined by qualified valuers who gather and analyse a range of property information. To work out how much a property is worth, the council valuer starts by analysing the latest property sales and rental data to build a profile of value levels for different areas and types of properties. This information is then applied to individual properties throughout the municipality. Land size and location, house value, plus the added value of a garage, garden, driveway and other improvements are also taken into consideration.

The capital improved value is used as the basis of rating for the new financial year, which commenced on 1 July 2023. A revaluation of properties does not mean extra rate revenue for Council. As part of its budget process, Council determines the amount of total revenue it requires to raise from rates. Property valuations are used as the basis for levying rates and therefore each property’s contribution to Council’s overall rate revenue is determined by its valuation. Rises in CPI, council spending on infrastructure and the cost of delivering services to residents are all factors considered when determining how much rate revenue needs to be collected. The Victorian State Government has also introduced a rate capping process which sets the maximum annual increase in rates. Council’s who wish to raise rates higher than “the cap” must follow a formal approval process.

Rates are redistributed according to shifts in property values that have occurred in different parts of the municipality. Some ratepayers may experience a change in their rates, depending on the type of property they own and where it is located. Changes in property values will vary across the municipality, and these will be reflected in each property’s rate bill.

What is an AVPCC? An AVPCC is allocated to each property by the council's valuer according to the use of the land – e.g. house, shop, grazing. The AVPCC is used to determine the land use classification for the State Governments Fire Services Property Levy.

How does the AVPCC affect my rates? The AVPCC does not affect the general rate applied to your property as Councils’ differential rating is based on property location not property type. The AVPCC may affect the property valuation if the property usage differs greatly from the AVPCC allocated to it, e.g. Dwelling when it should be Shop.

What to do I do if I believe the AVPCC is incorrect? If you believe that the AVPCC allocated to your property is incorrect please contact Council to discuss the matter.

For a full listing of AVPCC's please view the attached 2023 Valuation Best Practice document.

The State Revenue Office uses site valuations for the purpose of assessing land tax under the Land Tax Act 2005.

The site value of land returned at Council's 2023 general valuation, which will appear on Council rate notices for 2023/2024 will be used for land tax in 2024.

Further information on the use of valuations for land tax can be found on the State Revenue Office website www.sro.vic.gov.au

Any person aggrieved by the valuation of their property is entitled to lodge an objection within two months of issuing of the rates and valuation notice. Objections can be lodged online at https://ratingvaluationobjections.vic.gov.au or Objection forms are available below and these can be lodged wiht Council.

Residential Objection Form

Rural Objection Form

Commercial Industrial Objection Form

Non-Rateable Objection Form

Contact
Rates Department | Customer Service
111 Brown Street
Hamilton Vic 3300
Phone (03) 5573 0444
Email council@sthgrampians.vic.gov.au