All councils are require to have all properties valued. The most recent valuation is effective from January 1, 2024 and apply for the rating for the 2024-2025 rating period.
The valuation is listed on the rates and valuation notice. Values are now conducted annually by the Valuer-General Victoria (VGV)’s contracted property valuers.
Only qualified valuers from the Valuer-General Victoria (VGV) that hold recognised tertiary qualifications and with the required practical experience, can perform municipal valuations.
Definitions of some of the key valuation terminology
- Capital Improved Value – the value of all land, buildings and improvements on a property
- Site value – the value of the land only
- Net annual value – the expected annual rental return (CIV divided by 20)
- Objection forms are provided by the VGV for residential, commercial/industrial and rural should you wish to lodge an objection.
If you disagree with the rating valuations or the AVPCC (Australian Valuation Property Classification Code) as shown on your rate notice (or on other grounds as specified in the Valuation of Land Act 1960), you may lodge an objection.
Objections must be lodged within two months of the date of notice as shown on your annual rate notice or supplementary valuation notice, and should be submitted on the prescribed form. Please note that the land use classification as shown on your rate notice is determined under the provisions of the Fire Services Property Levy Act 2012. The land use classification allocated to a property for levy purposes is a non-reviewable decision:in other words, you may object to the AVPCC as shown on your rate notice, but not to the land use classification.
For further explanation of what the AVPCC on your rates notice means, you may download a list of the current AVPCCs.
These forms need to be returned to us in person in Hovell St or posted to:
- Wodonga Council,
PO Box 923,
Wodonga, VIC 3689