Council is required by law to value properties in the City of Greater Dandenong every two years. The use of those valuations is part of a long-running system Councils in Victoria use to determine rates.
The City of Greater Dandenong Council uses the Capital Improved Value (CIV valuation base) for the purpose of determining rates. The CIV is the total market value of the land, plus buildings and other improvements.
The CIV is assessed every two years, as at 1 January in each even calendar year, in accordance with the Valuation of Land Act and under the guidance and audit control of the Valuer-General.
Other government authorities such as South East Water and State Revenue Office may use council valuations for their purposes.
How is the valuation conducted?
Properties are valued by independent valuers and submitted to the Valuer General’s Office for audit and certification. The valuer has thorough knowledge of sales, rentals and statutory considerations which are laid down by valuation legislation.
The valuers undertake an external inspection of the properties and have access to detailed building information. Property values are also determined by an analysis of sales and rental data for each neighbourhood.
Sometimes properties appear to be identical but the rates charged on them are different. This is because rates are calculated on the total value of the land, buildings, swimming pools, garages and any other improvements.
If changes to a property occur that could alter its value, a supplementary valuation is conducted during the year to update property records.
These changes can include:
changes in the use of a property
The supplementary valuation takes effect as soon as the valuation is approved by Council. In some cases, supplementary valuations may be back dated to correct anomalies. Rates are then adjusted pro rata for the year, based upon the effective date of the supplementary valuation.
A formal objection to a valuation can be made, upon the grounds set out in the Valuation of Land Act.
An objection to a valuation does not remove the need to pay the rates that have been levied. Failure to pay rates on time may result in interest being charged.
Please keep in mind that the the existing valuation reflects the market price at the date of valuation. It does not always reflect today's values and the property market may have increased or decreased since the date of the valuation.
Before obtaining an objection form, we encourage you to contact us to understand the process in which the valuation was made.
City of Greater Dandenong
PO Box 200, Dandenong
Victoria Australia 3175
PH: +61 3 8571 1000