Your property valuation is a three-yearly assessment of the property's value in relation to current market values. To view the latest valuation, use the Property Search to access the Council's rates database.
The Council contracts Quotable Value to perform three-yearly property revaluations to reflect changing market values.
The valuations are a snapshot of the market as at 1 September the year of revaluation.
To provide fair, transparent and independent property ratings, the Council uses standard rating valuations which are governed by legislation - the Rating Valuation Act 1998 - and audited by the Office of the Valuer-General.
Your rating valuation
You will receive a notice of your rating valuation once every three years from 2009. It will be reflected in your Rates Assessment Notice from the following rating year, commencing 1 July.
The main indicator of a property's value is its worth on the current real estate market. The value is determined by looking at the selling price of other similar properties in the area. Any chattels such as carpets, drapes or light fittings are excluded from the valuation.
Understanding Your Rating Value (51KB PDF)
This is the probable price that would be paid for the property as at the date of the latest general revaluation. It does not include chattels, stock, crops, machinery or trees. Residential values include GST, other property types do not.
This is the probable price that would be paid for the bare land as at the date of valuation. The Land Value includes any development work which may have been carried out, such as draining, excavation, filling, retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility build-up, or protection from erosion or flooding.
Value of improvements
This is the difference between the capital value and the land value. It reflects the value of the property’s buildings and other structures.
Nature of improvements
The most common types of these improvements are:
- DWG - dwelling
- FLAT - ownership unit/townhouse
- OB - other buildings
- OI - other improvements
- FG - fencing
Accounting for improvements
The Council forwards details of all building consents to Quotable Value. Before 1 July or when renovation work is complete, Quotable Value inspects the property and amends the valuation to account for the work. If the project is not completed before 1 July, values will be re-assessed annually. The ratepayer will receive an assessment notice reflecting the revised value. This notice supersedes any previous valuations.
If you've done major work on your home that didn't require a consent, for example some kitchen redecorating, you can contact Quotable Value to have the improvements considered in the general revaluation.
Lodging an objection to your valuation
If you are unhappy with either the land or capital valuation of your property, you can lodge an objection with Quotable Value. This only applies immediately after a revaluation or update due to changes to your property. The objection process and timeframes are clearly outlined on the back of your assessment notice.
Quotable Value will review the objection and re-inspect the property. The objector will be advised of the outcome in writing.
If you don't meet the objection deadline, Quotable Value will take your concerns into account on the next revaluation. You can pay Quotable Value to do an immediate revaluation but the results cannot be used for rating purposes until the next rating year.