Property Valuations

We are required to undertake property valuations every two years. This is prescribed in the Valuation of Land Act 1960. This ensures that the value placed on each property by the Council is up-to-date and reflects the market value of the property, taking into account the latest market evidence for suburbs in Brimbank.

This is an important process as the value of a property determines the amount of rates charged on that property.

The last property valuation carried out came into effect from 1 July 2010, with the level of valuation based on property values determined as at 1 January 2010.

Property valuations are determined by analysis of property sales and rental evidence. Information is compiled on each property through inspection, building and planning applications/permits and other public sources. Property valuations appear on your Rate and Valuation Notice issued around August each year.

Council is required to provide three levels of valuation for each property, which are outlined below. However, the most important valuation is Capital Improved Value, as this is the valuation figure that determines the level or rates charged on a property.

The three levels of property valuations are:

Capital Improved Value - This refers to the value of the land and any improvements to the property, such as a dwelling, garage, pool, shed etc

Site Value - This refers to the value of the land only.

Net Annual Value - This equates to 5% of the CIV on all properties other than Commercial/Industrial. On commercial/Industrial properties it is based on the annual rental return the owner would expect to receive if leased.

Further Information

For more information call 9249 4000 or email info@brimbank.vic.gov.au