We raise income from rates to fund community services and public infrastructure works in Manningham. Like most municipalities, we use Capital Improved Value (CIV), where CIV means the total market value of the property, including land, buildings and other improvements. We use the CIV to determine the appropriate rate amount for each ratepayer.
How valuers calculate property valuations
Valuers must return three valuations of each property which are:
- Capital Improved Value (CIV)
- Site Value which relates to the market value of land only
- Net Annual Value which is the current value of the property’s net annual rent and set at five per cent for residential properties, but could be higher for commercial assessments.
Talk to the valuer before making a valuation objection
Making an objection to a valuation is a formal administrative process governed by law. If you are considering an objection, it is a good idea to talk to the relevant valuer about your concerns.
How to lodge a valuation objection
If you believe that the valuation does not reflect market value of your property at 1 January of the relevant year, you may lodge an objection.
To make an objection you can either:
- Submit your objection online within two months of the issue date of the valuation and rates notice.
- Submit your objection by mail or in person by completing a valuation objection form for your residential or commercial property within 2 months of the issue date of the valuation and rates notice.
You will still need to pay your rate instalment
You are still obliged to pay the rate instalment by the due date, even if you have lodged a formal valuation objection. If there is an adjustment to the valuation, there will be an amendment to the rate amount and you will receive a refund if there is a credit.
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