Property revaluation

All Monash properties were revalued in January 2018, and  this revaluation has been used as the basis for the 2018/19 rate notices.

From the 1 July 2018 the State Government has appointed the Valuer General Victoria to perform revaluations on all properties in Victoria annually. Revaluations are no longer to be done every two years but now annually and Councils are no longer responsible to perform the revaluations. 

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 2.25% in the 2018/19 financial year complying with the State Governments Rate Income Cap.

Here is more information on: How rates are calculated.

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Last updated: 19 October 2018