Currently, land valuations are carried out by a valuation authority, either a council or the VGV on nomination by a council. A revaluation is completed in each of Victoria's 79 municipalities every two years.
The changes recognise the VGV as the sole valuation authority to conduct valuations of all land in Victoria for rating and taxing purposes. These general valuations will now be conducted annually, although individual councils can 'opt out' of VGV centralisation until 2022.
The changes do not affect underlying valuation principles or methodologies, which are detailed in the Valuation Best Practice Specifications updated by VGV for each revaluation.
The Valuer-General holds a record of statewide valuation data.
The Valuer-General provides certified valuation data from the Valuation Record to other rating authorities, including the State Revenue Office and water authorities, who use it to levy ad valorem charges.
Practice Note Rating valuations, planning permits and site value - June 2017 (DOCX, 104.4 KB)
Practice Note - Port of Melbourne Decision - July 2016 (DOCX, 168.2 KB)
Practice Note - Jam Factory Decision - October 2011 (PDF, 159.3 KB)
Practice Note - Jam Factory Decision - October 2011 (DOC, 99.5 KB)
Practice Note - Objections Lodged with SRO 2010 (PDF, 133.4 KB)
All Acts of Parliament relating to valuations, including but not limited to the Valuation of Land Act 1960, Land Acquisition and Compensation Act 1986, Planning and Environment Act 1987, Local Government Act 1989 and Financial Management Act 1994, can be found online.
To view them, go to Victorian Legislation and Parliamentary Documents select Victorian Law Today and enter the name of the Act.
Victoria's rating valuations – managing your valuation, councils have the option to transfer to the Valuer-General their responsibility for completing rating authority valuations.
View the fact sheet and register an expression of interest in nominating the Valuer-General as the valuation authority.
Victoria's private property was valued at $1,85 trillion as of 1 January 2016.
The figure compares with $1.55 trillion in 2014 and $1.39 trillion in 2012.
The latest figures on the value of private property are the result of Victoria's biennial revaluation.
All private property was revalued by councils as of 1 January 2016. This covered a total of 2.9 million residential, industrial, commercial and rural properties.
The following table sets out the 2016 revaluation outcomes (Excel, 41.4 KB)
The following table sets out the 2014 revaluation outcomes (Excel, 43.0 KB)
What rights do I have to query the valuations used in my Land Tax Assessment notice?
If you have any general enquires, which are not answered on the Land Tax General Information brochure enclosed with your assessment, you can contact the State Revenue Office on (+61 3) 9628 0000 or 13 2161 (at cost of a local call).
As Land Tax assessments are based upon valuations made by the council, where the property is located, objection rights are limited to those set out in the council rate and valuation notice.
Can I purchase property sales information?
Yes. Property sales information is available to valuers, real estate agents and people who have lodged an objection against a council valuation or their property is subject to compulsory acquisition by the State Government.