Property revaluation

All Monash properties were revalued in January 2024, and this revaluation has been used as the basis for the 2024/25 rate notices.

From the 1 July 2018, the Valuer-General Victoria has performed revaluations on all properties in Victoria annually. Revaluations are no longer performed by councils.

Councils do not get more money due to property prices increasing. The revaluation simply re-apportions the amount that each ratepayer contributes.

The Valuer General Victoria has information about Council Rating Valuations on their website: www.land.vic.gov.au/valuations/valuations-for-rate-and-land-tax/council-rating-valuations

For information on objection to your property valuation, visit: Objecting to a valuation

Valuer-General now undertaking the 2025 annual rating revaluation

Valuer-General Victoria is currently undertaking a revaluation of all properties for rating purposes in the City of Monash. These valuations will be used by Council for the 2025/26 financial year.

As part of the valuation process, property rental information is being collected from property owners, agents and tenants. Council and the Valuer-General are aware of the difficulties being faced by property owners and tenants at present. VGV’s appointed valuers, Westlink Consulting, are collecting rental information for commercial and other properties in order to ensure the returned valuations are accurate and the impact of current market conditions is properly considered.

Valuer General Victoria (VGV) – assigning authority to Westlink Consulting (Valuers) to undertake the revaluation for Monash.

https://authority.westlinkconsulting.com.au/Monash.pdf

The information is being collected by a short online rental survey. Authority for the collection of this information is contained within the Valuation of Land Act 1960. The information provided will remain confidential and will be used only for the purposes of the revaluation.

Frequently asked Questions (FAQ)

https://authority.westlinkconsulting.com.au/FAQ.pdf

The cooperation of City of Monash ratepayers in the provision of this information is greatly appreciated. Should you have any queries in relation to the survey please contact the Westlink market data team on MD@westlinkconsulting.com.au

Read also: Can I object to my property's valuation?

How are properties valued?

Valuers assess a Capital Improved Value (CIV) for each property. This takes into account the total market value of the land plus buildings and other improvements.

When working out the value of your property, valuers will analyse property sales and rents and look at the type of property and its features. Information on properties is compiled through inspections, building and planning permits and other public sources.

How valuations affect rates

The amount you pay in rates is partly determined by your property's value. 

Council increased overall rates revenue by 2.75% in the 2024/25 financial year, complying with the State Government's Rate Income Cap.

Read more: How rates are calculated

What is a supplementary valuation?

A supplementary valuation is an amended valuation calculated after the yearly revaluation for one of the following reasons: 

  • any change to the physical characteristics of the property 
  • any change to the use of the property 
  • the property is now occupied, or no longer occupied by a ratepayer that qualifies for the criteria of non-rateability under Local Government Act 1989 s.154  
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