Property valuations
Key points
- A valuation is an assessment of the amount a property would sell for on a particular date.
- Your property’s valuation for 2023–24 is set at its market value as at 1 January 2023.
- All properties in Cardinia Shire were revalued in 2023. This was required by the Victorian Government. Properties in Cardinia Shire increased in value by an average of 13.01% from 2022 to 2023.
- Revaluation of your property does not increase the total amount of rate revenue we collect. Instead, it determines the proportion of rates you need to pay relative to other property owners. Find out how your rates are calculated.
Supplementary valuations are sometimes done between general valuations.
Valuations system
The Valuer General Victoria (VGV) is responsible for property valuations, and valuations are conducted each year.
These valuations are provided to councils and the State Revenue Office to set council rates, land tax and the Fire Services Property Levy.
Your property’s valuation for 2024/25 is set at its market value as at 1 January 2024, and used to calculate the 2024/2025 annual rates.
Property valuations – how they are calculated
All valuations are conducted in accordance with Valuation Best Practice Specifications.
Capital Improved Value explained
To work out a property’s Capital Improved Value (CIV), the valuers analyse property sales and rental data trends as well as factors including a property’s location, land and building size, and the age and condition of buildings.
The property's CIV is then used to calculate the rates payable on that property, as well as the variable charge component of the Fire Services Property Levy
What is an Australian Valuation Property Classification Code?
In accordance with the Fire Services Property Levy Act 2012, each property is assigned an Australian Valuation Property Classification Code (AVPCC) according to how your land is used (residential, farming, industrial, etc).
It is listed on your rates notice, just below the property details and determines how the levy will be calculated.
You can view how the Fire Service Property levy in calculated here Fire services property levy | State Revenue Office (sro.vic.gov.au)
You can view the codes here.
Objecting to your property's valuation
If you disagree with the valuation when the Rates & Valuation notice is issued you can submit a valuations enquiry form, and the contract valuers will assess your enquiry and make contact with you to discuss further.
Alternatively, you can call us on 1300 787 624 to discuss your valuation concerns and options.
If you are not satisfied from the outcome of your enquiry, owners have the legal right to submit a valuation objection within two months of receiving the notice.
This process is governed by the Valuation of Land Act 1960 and involves responsibilities for the Council, the VGV, and their contract valuers.
Lodge an objection
Use the rating valuations objection portal
Submission of a valuation objection is not grounds for non-payment and you still need to pay your rates instalments by their due dates to avoid any interest charges on the outstanding balances.
If the objection results in a change of valuation, a Supplementary Notice will be issued outlining the rates financial adjustment.
Next steps
Objections will be considered in accordance with the Act. If you object and are not satisfied with the outcome, you can take the matter to VCAT.
Land Tax
The State Revenue Office (SRO) uses the site value assessment on your rates notice for the purpose of assessing land tax. All enquiries relating to a Land Tax Assessment notice must be directed to the State Revenue Office (https://www.sro.vic.gov.au/land-tax/object-site-value-your-land) in the first instance. If the enquiry relates to the valuation, the SRO will refer the matter to the appointed contract valuer.