Property valuations for for rates and taxation purposes are conducted by the Valuer-General Victoria.
Each property has three different valuations:
- The Capital Improved Value (CIV) is a combination of the land value as well as the buildings and other improvements such as fencing, sheds, pools etc.
- The Site Value (SV) is the unimproved value of the property, i.e. land only. This is used by the State Revenue Office to assess any land tax under the Land Tax Act 2005. For more information regarding land tax please visit State Revenue Office Victoria.
- The Net Annual Value (NAV) for all residential properties is equal to 5% of the Capital Improved Value. For commercial properties, it is either an indication of a property's net annual rent, or 5% of the Capital Improved Value, whichever the greater.
How often are properties valued?
The Valuation of Land Act 1960 requires all properties within Victoria to be revalued on an annual basis. The current Level of Value date for the 2021/22 Rates and Valuation Notices are based on 1 January 2021 levels of value. This is to ensure consistency across the municipality.
Why properties are valued?
Council uses the valuation of your property to fairly determine your rates and charges.
Redevelopment, subdivisions and new homes and buildings increase the number of rateable properties in the municipality. With more rateable properties, the cost of services is shared by more rate payers. However, in a growing municipality, more services are also required to meet the community's needs.
How are properties valued?
Qualified property valuers analyse all sales that occur between revaluations with sales closest to the relevant date being used to determine the new valuations. These are then applied to each individual property in Stonnington.
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, encumbrances, easements and multiple street frontages
- The building, its size, age, condition and style and construction type
- The highest and best use of the site
How do property valuations affect my rates?
Revaluations do not affect the amount of overall rate income collected by the municipality, rather, they redistribute the amounts paid between each property on the proportion of that individual property’s value compared to the collective value of all properties in the municipality.
What is a Supplementary Valuation?
In certain circumstances, supplementary property valuations must be undertaken between general valuations.
Examples of when supplementary valuations are undertaken are when properties are:
- Physically changed, for example, when buildings are altered, erected or demolished
- Portions are sold off
If a supplementary valuation is carried out on your property and the property value changes, you will be issued a supplementary valuation notice which will detail the amended rates and valuations.
The date of valuation on a supplementary notice is the same as that for the rating year (1 January of the relevant year). However, the actual rates charges will be pro-rata from the date of notice on the supplementary valuation notice.
Please email any valuation enquiries to firstname.lastname@example.org
If you wish to discuss your valuation prior to submitting an objection please contact our valuation department at email@example.com
You can object to the valuation of a property within 2 months of the date of issue on your rates and valuation notice (or supplementary rates notice). This is outlined in the Valuation of Land Act 1960.
When you object, the property valuation is reviewed and a decision made by Valuer-General Victoria appointed Valuers.
Lodging an objection or appeal against a valuation assessment does not prevent rates from being paid. Any instalment that falls due must still be paid by the due date.
How do I lodge an objection?
Objections can be made online here. This is the Valuer General Victoria (VGV) preferred (and quickest) method of submitting your objection. You will need your latest rates and valuation notice on hand for information.
Alternatively, you can complete the relevant valuation form below.
Send to Council via email at firstname.lastname@example.org or by post:
City of Stonnington
PO Box 58
Malvern VIC 3144
When will I receive a notice of decision?
Once Council receives your objection form, an acknowledgment letter will be issued. A valuer will be in contact within 6 weeks from the date contained within the acknowledgment letter to discuss your valuation objection. Under the Valuation of Land Act 1960, the Valuer General’s contract valuers will provide you with a reasonable opportunity to discuss the objection and provide a notice of decision within 4 months.
What if I am not satisfied with the formal response?
If a ratepayer is not satisfied with the decision of the Valuer or the VGV, they can appeal to the Victorian Civil and Administrative Tribunal (VCAT) for review.
If my valuation is adjusted, will a new annual rate notice be issued?
Yes. Once a ratepayer receives confirmation from Valuer-General Victoria confirming any recommended valuation adjustments submitted by the contract Valuer, a new notice will be issued within 3 months.
Land Tax Objection
Should you receive a Land Tax assessment notice from the State Revenue Office (SRO) and wish to object to the Site Value (SV) please contact SRO directly on 13 21 61 or visit the State Revenue Office website to lodge an online Land Valuation Objection. You have 2 months from the issue date on your SRO notice to object to your Site Value.