Published on Thursday, 8 August 2019 at 3:30:00 PM
Once every five years the Valuer General’s Office (VGO) re-values properties, taking into consideration changes to market values, additions, and land condition. This year all the GRV properties in the Shire of Chittering have been revalued by the VGO.
The revaluation has resulted in some properties increasing or decreasing in value significantly causing much higher or even lower rates. It is therefore important to remember that although the Shire has increased total rates revenue by 3% individual properties could have a much different increase or decrease. This year there is a considerable range in this percentage of change, being between 20% and -20%.
The formula used to calculate Rates is the value of your property multiplied by the rate in the dollar.
The value of individual properties is determined by the Valuer General’s Office (VGO) and can be found in the top right hand box on your Rates Notice. The different types of values are:
- GRV Value – Gross Rental Value is the potential annual rental income your property could yield according to the VGO (non-rural properties)
e.g. GRV Value 5,200 = $100 per week
- UV Value – Unimproved Value is the value of the property (arable land) without any infrastructure (no house or shed – generally rural properties)
e.g. UV Value 150,000 = conservatively what could be cropped or leased etc
If you have questions regarding the valuation of your property, information on how the Valuer General determines the value of a property can be found here: https://www0.landgate.wa.gov.au/for-individuals/property-valuations.
Ratepayers are able to lodge an objection to their valuation with Landgate. More information can be found here https://www0.landgate.wa.gov.au/for-individuals/property-valuations/lodging-an-objection or by calling Landgate on 9273 7373.
Any changes to the valuations will change the rates assessment and the Shire will issue a refund or an interim rate notice will be applied.
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