Property Valuations

All Glenelg Shire Council properties were revalued in January 2023, and this revaluation has been used as the basis for the 2023/24 rate notices.

From the 1 July 2018, the Valuer-General Victoria requires annual revaluations on all properties in Victoria. Revaluations are no longer performed by councils.

Councils do not get more money due to property prices increasing. The revaluation simply re-apportions the amount that each ratepayer contributes.

The Valuer General Victoria has information about Council Rating Valuations on their website: www.land.vic.gov.au/valuations/valuations-for-rate-and-land-tax/council-rating-valuations

Valuer-General now undertaking the 2024 annual rating revaluation

Valuer-General Victoria is currently undertaking a revaluation of all properties for rating purposes for Glenelg Shire Council. These valuations will be used by Council for the 2024/25 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, Preston Rowe Paterson, are collecting rental information for commercial and other properties in order to ensure the returned valuations are accurate and the impact of current market conditions is properly considered.

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 rates revenue by 3.5% in the 2023/24 financial year, complying with the State Government's Rate Income Cap.

State Revenue Office

The State Revenue Office uses the site value to assess land tax under the Land Tax Act 1958. 

Objections to the site value must be made to local councils within the time limits prescribed under the Valuation of Land Act 1960.  A taxpayer does not have a right of objection to a valuation arising from its use for land tax, which occurs at a later time than the use for council rates.

Further information on the use of valuations for land tax can be found by visiting the State Revenue Office website.