Victorian Law requires the Valuer-General to value properties in the City of Greater Dandenong each year. Council uses these valuations to work out your rates.
Council uses the Capital Improved Value (CIV) to work out your rates. The CIV is the total market value of the land, plus buildings and other improvements.
The Valuer General assesses the Capital Improved Value of each property as 1 January every year. This is in line with:
- The Valuation of Lands Act 1960; and
- The Valuation Best Practice Specifications published by the Valuer General
Why the rates valuation process changed
To be clearer and more efficient, the Valuer-General Victoria is now responsible for valuations rather than local councils. All states and territories now have the same statutory valuation authority responsible for rating and taxation valuations.
Why valuations are now done yearly
Yearly valuations will help make the way Council distributes rates clearer and more accurate. The move to yearly valuations will reflect changes in valuations on your rates notice and land tax valuations.