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Valuations

All municipalities in Victoria are revalued every two years.  All properties in Horsham Rural City Council were revalued during 2016 by Council's Contract Valuer  at a level of value date of 1st January, 2016.

Three values have been returned by Council's Valuer for each property as follows:

  • Site Value (SV) - being the value of the land only, disregarding most improvements, but having regard to surrounding development.
  • Capital Improved Value (CIV) – being the value of the land, together with buildings and other improvements, thus being directly related to the market value of the land at the level of value date of 1st January, 2016.  This valuation does not include chattels or furniture and fittings.
  • Net Annual Value (NAV) - being the estimated annual rental value of the land (less certain expenses) except for farms and owner occupied dwellings, in which case the NAV is fixed at 5% of the CIV.

(You should look to the Valuation of Land Act 1960 for the complete definitions.)

Council's Valuer is also required to make supplementary valuations from time to time for changes to properties resulting from sales in subdivisions, construction or demolition of buildings and splits or consolidation of properties, as well as other changes affecting values.  These supplementaries are applied from when the changes were effected, using the same level of value date of 1st January 2016, following which rates for the year are recalculated and ratepayers advised.

Please note that other Authorities may use one or other of the bases of value for the purposes of a rate or tax levied by that Authority.  One of these is the State Revenue Office, which levies Land Tax on some properties.  For further information refer to the State Revenue Office website www.sro.vic.gov.au

Objections to Valuations

Should you believe that any of the Council valuations are not correct, you may object by lodging an objection with the Council within two months of the issue date of your rate notice.  This also applies to notices received after supplementary valuations.  The Council has objection forms which may be used for this purpose. There are four Objection Forms – Residential, Commercial/Industrial and Rural and FSPL Non-Rateable.  Copies of the objection forms can be obtained by visiting the DTPLI website or contact Council on 03 5382 9777.

Should you wish to discuss your valuations prior to lodging a formal objection contact the Rates Department on 5382 9777.  Please note that once you have lodged a formal objection the opportunity for a prior meeting with Council's Valuer will not be available, but you will still have the opportunity to discuss your valuations as part of the objection procedures described above.

The grounds for objection are only as set out on the form, which also allows for you to describe your objection fully. The Valuer is required to consider objections within two months, but he will not do so before discussing your objection with you personally. He will then advise you of his decision, and if he adjusts the valuations, the Victorian Valuer-General will also be advised.

The Valuer-General will confirm or amend the adjusted valuation and advise you. Should you be dissatisfied with the Valuer-General's decision you may lodge an appeal in writing within 30 days. Following confirmation, rates will be adjusted and a new rate notice forwarded.

Please Note: Rates must be paid by the due date pending a decision on an objection.

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