Property revaluation

All Monash properties were assessed by independent valuers as at 1 January 2018 with this revaluation used as the basis for the 2018/19 rate notices.

This is in keeping with a State Government requirement that all Victorian Councils carry out a valuation every two years.

However, from 2018/19 valuations will take place every year.

Councils do not get more money due to property prices increasing. The revaluation simply re-apportions the amount that each ratepayer contributes.

Council's rate increase this year is 2.25%, the rate cap set by the State Government.

Property values in Monash have risen by an average of 14% between 2016 and 2018.

How are properties valued?
How valuations affect rates
Can I object to my property's valuation?

How are properties valued?

Valuers assess a Capital Improved Value (CIV) for each property. This takes into account the total market value of the land plus buildings and other improvements.

When working out the value of your property, valuers will analyse property sales and rents and look at the type of property and its features. Information on properties is compiled through inspections, building and planning permits and other public sources.

How valuations affect rates

The amount you pay in rates is partly determined by your property's value. 

Council increased rate revenue by 2% in the 2017/18 financial year complying with the State Governments Rate Income Cap.

This being a non-revaluation year will mean that ratepayers rates will increase by 2% on average for 2017/18.

Here is more information on: How rates are calculated.

On average, properties in Glen Waverley, Wheelers Hill and Mount Waverley increased in value the most, while properties in Notting Hill, Hughesdale and Chadstone increased in value the least.

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Last updated: 09 July 2018