A valuation is an assessment of the market value of a property at a specific date. All properties in Corangamite are currently valued as at 1 January 2016.
Council's rates are calculated against the Capital Improved Value (CIV) of the property. This is the total market value of the property being Site Value plus buildings and other improvements.
In some cases, Council does supplementary valuations on properties when there is a significant change to a valuation. This may occur because of a new building, an extension, a subdivision or consolidation of properties.
For more information on revaluations, visit the Department of Environment Land Water & Planning website.
What if I object to my valuation?
Objections to valuations must be made on a form provided by Council and available from the Rates Office. We suggest that before you lodge a formal objection, you discuss the matter with our Rate Revenue Coordinator and/or Valuer.
Objections must be lodged within two months of a notice being served on a general valuation or supplementary valuation.
Objections may be on one or more of the following grounds:
- That the value assigned is too high or too low
- That the interests held by various persons in the land have not been correctly apportioned
- That the apportionment of the valuations is not correct
- That lands that should have been included in one valuation have been valued separately
- That the person named in the notice of valuation, assessment notice or other documents is not liable to be named
- That the area, dimensions, classification for FSPL or descriptions of land are not correctly stated in the notice of valuation, assessment notice or other documents.