Valuations for all Victorian councils run once every two years and are governed by the Valuation of Land Act 1960.
Why do we need a valuation?
A valuation of property values in Moonee Valley tells us the value of a property in relation to all other properties. This relativity determines how the total rates cost is shared.
How does a valuation work?
Property values are determined by analysing property sales and rental evidence.
It is the relativity, not necessarily a change in property value, that decides whether the rates on an individual property will change following a general valuation. The more often we do our valuations, the fairer our rating process becomes.
Does a revalution mean a rate increase?
A revaluation does not mean there will be a rise in the total rates we collect. A revaluation simply redistributes the amount paid based on a fairer and updated valuation.
When was our last valuation?
1 January 2008. The valuation was first used for rating purposes on 1 July 2008.
For more information
If you would like more information on valuations, call our Citizen Services Centre on 9243 8888.