How are properties rated?

There are two methods by which properties are charged Council rates.

Most properties within the City are valued on a Gross Rental Value (GRV) basis, with a small number valued on an Unimproved Value (UV) basis.

Whether a property is rated on a GRV basis or a UV basis depends on how the land is actually used. Should the land use change, the method by which rates are levied may also change.

How do I know if my property is rated on a GRV or UV basis?

Your rate notice clearly states the value and whether your property is rated GRV or UV. You can also contact the City’s Rates staff on 9397 3000 to find out the rating method applicable to your property.

If my property is rezoned will that change the way the property is rated?

No. As outlined above, the rating methodology is determined by the manner in which a property is actually used (not necessarily for what it is capable of being used). For example, if a property is rated on a GRV basis, it will continue to be rated on a GRV basis unless the land use changes.

If my property is rezoned will my rates change?

Most likely, yes. However, a change in the zoning of your property is only one factor that can contribute to your rates changing.

The Valuer General reviews the value of all GRV-rated properties every three years and UV-rated properties every year in the metropolitan area.

The City also reviews all rural zoned properties as required, usually within a three year period, to determine the use of the property and if a change in rating methodology is required. The valuation of land takes into account a range of matters including improvements on the property and zoning that generally reflect the value of land in the open property market and the rent that could reasonably be obtained for lease of the premises in the open market.

The rates charged for a particular property can be expected to increase if the Valuer General determines that the value of the property has increased.