Property revaluation

All Monash properties were revalued in January 2016, with this revaluation used as the basis for the 2016/17 rate notices. These values are again used for the 2017/18 rating year.

Councils are required by law to carry out a revaluation every two years. The next revaluation will be in January 2018.

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

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: 26 June 2017