Valuations and Objections

Property Valuation

A Council Property Valuation is an assessment of the market value of your property for rating purposes.

Victorian Legislation requires that Valuations are undertaken every year as at 1 January by the Valuer-General.

Please note, Council Valuations are for rating purposes and may be different from a bank or real estate market Valuation.

Frequently Asked Questions

What is my Property Valuation based on?

The Valuer-General makes a Valuation of your property based on the following information:

  • market changes in your area
  • recent, comparative sales
  • location and land size
  • building value (size, age, quality and condition of your property)
  • any other improvements and extensions to your property

What do the different Valuations on my Rates Notice mean?

  • Site Value (SV) - The value of land only (please note that the Site Value (SV) is included in the Capital Improved Value (CIV) 
  • Capital Improved Value (CIV) - The value of land plus all improvements such as buildings, garages, pools, tennis courts etc (this Valuation is used to calculate your Rates)
  • Net Annual Value (NAV) - This reflects the annual rental value (residential properties reflect 5% of the CIV, commercial and industrial properties reflect the average annual rental amount)

The property market has changed, why hasn't my Valuation reflected this?

Property Valuations for rating purposes are dated as at 1 January each year.  Rate notices are issued around eight months later.  While the market may have changed a lot during this time, your Valuation is based on property sales leading up to the Valuation date of 1 January and any market changes between 1 January when rates notices are issued are not taken into account until the next financial year.

Why have my Rates increased?

The Rate in the Dollar is determined by a budget process to calculate the total amount of rate revenue we require to maintain our services and deliver future projects. This amount is divided by the total value of the properties within the Frankston City Municipality (this amount changes every year).

The result of this could be that your Capital Improved Value (CIV) has decreased but the rate in the dollar has increased by a higher amount which means there would be an increase in your Rates.

Will Rate Capping affect my Valuation?

The annual revaluation may have an effect on the overall percentage increase of your Rates. In some cases, ratepayers will find that their rates bill has changed by more or less than the current rate cap from the previous year. There are reasons this may occur, including:

  • The Valuation of the property has increased greater than the Valuation of other properties in the municipality
  • The inclusion of other rates and charges not covered by the Government’s rate cap policy have increased
  • The application of any differential rate by council.

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
  • Where the property is now occupied by a charitable or religious institution and is no longer rateable, or the property is owned and occupied by a statutory body.

Making a Valuation Enquiry

The Valuer-General is the responsible valuation authority for most municipalities within Victoria. If you disagree with the value of your property you can contact us to lodge a valuation enquiry within two months of the issued rates notice date. Please ensure that you provide us with as much detail as you can and any reasoning as to why you disagree with the valuation

Please check that you have not added your Site Value and Capital Improved Value together. 

Making a Valuation Objection

Please note, Objections must be made within two (2) months of the date of issue shown on the annual Rates Assessment Notice in the top right hand corner.

If you are not satisfied after speaking with the Valuer-General Contract Valuer or if you believe a valuation enquiry will not assist you, you may wish to lodge of a formal objection to the Valuer General of Victoria. Objections to a valuation shown on your council valuation and rate notice can be lodged electronically with the objections portal. Objections can be directly submitted to the Valuer General of Victoria via the Valuation Objection Portal.

Before proceeding with the online objection, please ensure you have your rates notice and any supporting documentation available for input into the portal.

Please note: Objections need to be done within 2 months from the issue date of the rates notices to be considered by Valuer-General.

Valuation objections can’t be taken over the phone or in person and must be made via the online portal linked above. 

I have lodged an Objection but I'm still waiting for the result, what can I do?

It may take a few months before you receive the results of your objection, however you can contact the appointed Valuer to check on the progress of your Objection.

Once the Valuer has made their determination, a recommendation is forwarded to the Valuer-General of Victoria for review and confirmation; you will then be notified of the outcome.

Land Tax Enquiries 

All enquiries and objections relating to Land Tax Assessment notices are handled by the State Revenue Office as they are responsible for issuing the Land Tax Notice.

For further information, including the Land Valuation Objection Form please visit State Revenue Office