Council valuations

A revaluation is completed in each of Victoria's 79 municipalities every two years. Up-to-date council valuations across the state are critical to ensure equity in rating and other tax determinations.

Revaluations in Victoria are completed in accordance with statewide Valuation Best Practice Specifications, which are updated by Valuer-General Victoria (VGV) for each revaluation. VGV oversees the revaluation process. It monitors the progress of all revaluations, provides advice to councils on valuation methodologies and ensures council valuers apply uniform standards across the state.

The Valuer-General also certifies all revaluations to ensure they have been completed according to the required standards, and prepares land tax valuations for properties in non-local government areas and for non-rateable properties owned by public utilities. 

Changes to the Valuation of Land Act 1960 in 2010 gave councils the option to appoint the Valuer-General as the responsible authority for completing their municipal revaluations. There are benefits to adopting this approach because VGV is Victoria's most experienced and best-resourced independent valuation authority. To date, most councils have retained responsibility for the revaluation and the majority employ contract valuers to perform revaluations and provide supplementary valuations.

You can find more detailed information about revaluation in VGV’s series of fact sheets. These fact sheets are updated for each revaluation.

The 2010 amendments to the Valuation of Land Act 1960 also gave the Valuer-General a new role to establish a 'Valuation Record' of statewide valuation data.

Fact Sheet - The Valuation Record [PDF File - 198.2 KB]

Fact Sheet - The Valuation Record (accessible) [MS Word Document - 41.5 KB]

The Valuer-General now provides certified valuation data to other rating authorities who use the valuation to levy ad valorem charges, including the State Revenue Office and water authorities. The public will also soon be able to access valuation data held in the Valuation Record for a prescribed fee.

Practice Notes

Practice Note - Jam Factory Decision - October 2011 [PDF File - 159.3 KB]

Practice Note - Jam Factory Decision - October 2011 (accessible) [MS Word Document - 99.5 KB]

Practice Note - Objections lodged with SRO 2010 [PDF File - 133.4 KB]

Practice Note - Exclusion of Water Shares  [PDF File - 2.1 MB]

Practice Note - Farming Zone [PDF File - 176.5 KB]

Practice Note - Objection Process [PDF File - 203.9 KB]

Supreme Court Decisions

Plant and Machinery in relation to the assessment of Capital Improved Value [PDF File - 28.7 KB]

Fair Value Asset Valuation Methodologies

Local Government Victoria works co-operatively with 79 Councils to ensure Victorians enjoy world-class responsive and accountable local government services and governance. Local Government Victoria is responsible for administering the Local Government Act 1989 (as amended) and also liaises with peak local government bodies and other agencies, both State and Commonwealth, which have policy, funding or legislative links with or interest in councils. The following guidance note, Fair Value Asset Valuation methodologies for Victorian Local Governments is a guide to Victorian local government involved with valuations of non-current physical assets for effective asset management and for financial reporting. It provides advice on methodologies for obtaining appropriate and consistent valuations across the sector.

Fair Value Asset Valuation Methodologies for Victorian Local Governments

Legislation

All Acts of Parliament relating to valuations, including but not limited to the Valuation of Land Act 1960, Land Acquisition and Compensation Act 1986, Planning and Environment Act 1987, Local Government Act 1989 and Financial Management Act 1994, can be found online. To view them, go to Victorian Legislation and Parliamentary Documents, select Victorian Law Today and enter the name of the Act.

	Victoria's rating valuations – managing your valuation Amendments to the Valuation of Land Act 1960 give councils the option to transfer to the Valuer-General their responsibility for completing rating authority valuations. View fact sheets and register an expression of interest in nominating the Valuer-General as the valuation authority.
	Revaluation 2012 Information on Revaluation 2012, view the 2012 Valuation Best Practice Specification Guidelines and access 2012 Valuation Report templates and find more detailed information about revaluation in VGV’s series of fact sheets.
	Specialist Property Guidelines The Specialist Property Guidelines, complied by Valuer-General Victoria and the Municipal Group of Valuers promote consistency and provide guidance to valuers conducting statutory valuations.
	Objecting to a council valuation If you disagree with a valuation of your property as listed on your rate notice, this section contains details on how you can lodge an objection with the local council.
	Property valuation statistics The latest valuation statistics for the State of Victoria and how to access statistics from previous revaluations.