Rates notice: how to read it
Your rates notice includes many details (a portion of which is set by the Victorian Government). Look at the example to learn about the main elements and to better interpret your own notice.
Example rates notice
Your total rates due are made up of 3 main types:
- general rates
- charges not covered by general rates
- fire services property levy.
These are typically the largest fee component of your notice. General rates are listed on your notice as line items, such as:
- residential improved / residential vacant; or
- commercial improved / commercial vacant.
General rates calculation, using details on your rates notice:
Rate in the $ on CIV × Capital Improved Value
General rates depend on property valuation data set by the Victorian Government each year.
Other charges: bigger or extra bins
Have a large general waste bin or maybe even a large green waste bin? There's a fee on top of your general rates to use the larger size.
All fees are itemised and if you have any standard services they are also listed even though no fee applies.
Fire services property levy
You will notice multiple fees described as:
- CFA Residential Fixed or MFB Residential; or
- CFA Residential Variable or MFB Residential Variable.
These fees are set by Victorian Government and are collected and passed on by us as a collection agent.
The levy is in 2 parts:
- a fixed fee, $113.00 for residential properties and $230.00 for non-residential.
- a variable fee, calculated as: capital improved value × levy Rate in $ on CIV
The State Revenue Office: Fire Services Property Levy outlines what the funds are used for and how they're set.
Rate cap: when does it apply?
We have multiple sources of funding to provide facilities and run services including grants, interest on investments and rates revenue.
The total amount of rates revenue we need is set annually in our budget process. Increases to this amount from the previous year is limited by a 2% rate cap.
Your rates bill may be more or less than you expected because the 2% cap applies to the total amount of rates we require, not your individual property.
The overall rate revenue amount is important as it is used to set the general rates Rate in the $.