Properties are revalued every two years in accordance with state government legislation. Rates for the 2017/18 financial year have been based on valuations as at January 2016.
Council uses Capital Improved Value (CIV) as its valuation basis for rating. CIV represents the market value of the property, inclusive of land and buildings. Site value is the value of land only. Net annual value is a minimum of 5% of the CIV.
For commercial assessments, the net annual value is the adjusted annual rent. The valuations for each property are shown on the rate notice.
If an amendment is made to the valuation to include any changes to the property, additional rates could be payable, for which a supplementary valuation and rate notice will be issued.
The Valuation of Land Act 1960 provides that any person who wishes to object against a valuation must lodge the objection with the Council within two months after the notice is given. Any such objection must use the prescribed objection form. Copies are available from Council's Property and Rates Department during normal business hours.
Ratepayers are encouraged to always discuss valuation issues with Council's Valuers prior to lodging an objection by calling
9262 6333.Regardless of any objection to the valuation, rates must be paid as assessed by the due date, otherwise interest may be charged.
379-397 Whitehorse Road, Nunawading, Victoria 3131
Tel: (03) 9262 6333 Fax: (03) 9262 6490Email: firstname.lastname@example.org