A valuation is an assessment of the market value of a property, at a specific date and in accordance with relevant legislation and legal precedent. All councils are required to have all
properties valued. The most recent valuation is effective from January
1, 2018. The valuation is listed on the rates and valuation notice.
Values are set every two years by the
council's contracted property valuers, not by council staff, and are
requirements of the Valuation of Land Act 1960.
Only qualified valuers from the
Valuer-General Victoria (VGV) that hold recognised tertiary
qualifications and with the required practical experience, can perform
Definitions of some of the key valuation terminology
- Capital Improved Value – the value of all land, buildings and improvements on a property
- Site value – the value of the land only
- Net annual value – the expected annual rental return (CIV divided by 20)
- Objection forms are provided by the VGV for residential, commercial/industrial and rural should you wish to lodge an objection.
If you disagree with the rating valuations or
the AVPCC (Australian Valuation Property Classification Code) as shown
on your rate notice (or on other grounds as specified in the Valuation
of Land Act 1960), you may lodge an objection.
Objections must be lodged within two months
of the date of notice as shown on your annual rate notice or
supplementary valuation notice, and should be submitted on the
prescribed form. Please note that the land use classification as shown on
your rate notice is determined under the provisions of the Fire
Services Property Levy Act 2012. The land use classification allocated to
a property for levy purposes is a non-reviewable decision:in other
words, you may object to the AVPCC as shown on your rate notice, but not
to the land use classification.
For further explanation of what the AVPCC on your rates notice means, you may download a list of the current AVPCCs.
These forms need to be returned to us in person in Hovell St or posted to:
- Wodonga Council,
PO Box 923,
Wodonga, VIC 3689