Property valuation and rates

Your rates notice lists multiple valuations used in a variety of ways to determine your rates and levies. The main valuation figure is the Capital Improved Value (CIV).

The rates you owe is based off the Capital Improved Value of your property.

The CIV combines the value of the land and any structures or improvements, e.g. primary residence, swimming pool, office studio, landscaping.

Find out how to read your rates and how they're calculated

Who sets the value on your rates bill?

Property valuations are updated each year by the Victorian Government, specifically the Valuer-General Victoria.

Council is not responsible for setting the valuations on your rates notice.

The value shown on your rates notice is the value of the property at 1 January of this year. All properties in Banyule and across Victoria will be revalued each year by the Valuer-General Victoria.

How your valuation affects your rates

Although the CIV for your property is used to determine the amount due for general rates- only a large rise or fall in your property value, relative to other properties in Banyule will affect the amount you pay.

Generally, a rise or fall in your property value or changes in the property market do not mean you will see the same change on your rates notice.

Objecting to your valuation

You have until 23 October 2020 to lodge an objection if you believe that your valuation is incorrect.

The Victoria Government valuation objection portal allows you to objection to the amounts shown on your Banyule Council valuation and rates notice.

We will check your submission first for accuracy. It will then be sent to a valuer for review.

Before you begin, you will need:

  • your council valuation and rate notice
  • assessment or property number
  • site value of land
  • value of building(s) and land (known as the capital improved value)
  • net annual value (a minimum of 5% of the capital improved value), and
  • issue date.

Submit your objection in the portal

Alternatively, or if your objection regards a commercial or industrial property, you can also use one of the Valuer-General Victoria forms:

This process can take up to 4 months, and does not suspend your rates owed in the interim.