Property revaluation

All Monash properties were revalued in January 2020, and this revaluation has been used as the basis for the 2020/21 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.

Valuer General now undertaking the 2021 annual rating revaluation

Valuer-General Victoria is currently undertaking a revaluation of all properties for rating purposes within City of Monash. These valuations will be used by Council for the 2021/22 financial year.

As part of the valuation process, property rental information is being collected from property owners, agents and tenants. Council and the Valuer-General are aware of the difficulties being faced by property owners and tenants at present. VGV’s appointed valuers, Westink Consulting, are collecting rental information for commercial and other properties in order to ensure that the returned valuations are accurate and that the impact of current market conditions is properly considered.

The information is being collected by a short online rental survey.  Authority for the collection of this information is contained within the Valuation of Land Act 1960.  The information provided will remain confidential and will be used only for the purposes of the revaluation.

The cooperation of City of Monash ratepayers in the provision of this information is greatly appreciated. Should you have any queries in relation to the survey please contact the Westlink market data team on MD@westlinkconsulting.com.au

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 overall rate revenue by 2% in the 2020/21 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: 23 September 2020