How we calculate your rates
Council uses the Capital Improved Value (CIV) to calculate your rates.
This is simply the value of the land, building and any other improvements, multiplied by a differential dollar rate. The rate changes depending on how the land and any improvements are used.
About Capital Improved Value
The Capital Improved Value is multiplied by the rate in the dollar to calculate the general rates to be paid by each assessment.
For 2026/27, the following differential rates in the dollar are:
- Vacant Land Differential Rate: 0.0037066
- Derelict Land Differential Rate: 0.0044479
- Retirement Village Differential Rate: 0.0011120
- Residential Differential Rate: 0.0014826
- Commercial Differential Rate: 0.0037066
- Industrial Differential Rate: 0.0039290
- Cultural and Recreational Lands Act Rate: 0.0014826
How it is calculated
For example, the rates for residential property are:
| $750,000 × 0.0014826 | The CIV value. The differential rate or rate in the dollar. |
| = $1,111.95 | Annual rates payable |
Who values your property
Property valuations are carried out by the Valuer-General Victoria (VGV) who works for the Victorian Government.
They provide a consistent quality of valuations throughout the state.
Property valuations are made under the Valuation of Land Act 1960 and applied by the Local Government Act 1989 to raise and collect rates and charges revenue.
Councils do not get more or less money due to property prices increasing or decreasing. The revaluation simply re-apportions the amount that each ratepayer contributes.
Property revaluation in Knox
The VGV revaluates all properties in Knox every financial year.
Why we need your help
To make sure our property valuations are accurate, we need rental information from property owners, agents and tenants. Westlink Consulting, appointed by VGV, collects this information for commercial and other properties. This helps us consider current market conditions.
How information is collected
We gather this information through a short online rental survey.
Your responses are used for:
- accurate property valuations
- updating Council’s property records.
This is done under the Valuation of Land Act 1960 and the Privacy and Data Protection Act 2014. Your information is not shared with others without your consent unless required by law.
If you have questions about the survey, contact Westlink:
- phone: 8456 5151
- email: [email protected]
Thank you for helping us ensure fair and accurate property valuations in Knox.
How your property is valued
The VGV works out 3 valuations per property. These are shown on your notice.
Site Value (SV)
The market value of the land only.
Capital Improved Value (CIV)
The total market value of the land, building and any other improvements in respect to each rateable property. The CIV is multiplied by the rate in the dollar to calculate the rate to be paid.
Find out more about the Capital Improved Value.
Net Annual Value (NAV)
The current value of a property’s net annual rental, minus all outgoings such as:
- land tax
- building insurance
- maintenance costs.
These do not include Council rates.
For residential properties, this is a mandatory 5% of CIV. For all other properties this is a minimum of 5%.
Supplementary valuations
If a property changes, a supplementary valuation may be needed. Properties can change for a variety of reasons.
Valuations must be updated to reflect things like:
- subdivisions
- buildings constructed, changed or demolished
- rezoning
- occupancies – a property may be adapted for multiple occupancies that are then separately rateable
- new leases.
Properties valuations also take into consideration the sale prices and rental returns of similar properties.
The Valuation of Land Act 1960 provides for a wide range of reasons for supplementary valuations.
When determining the supplementary value, the valuer determines what the property value was on 1 January of each calendar year.
The supplementary value may not necessarily reflect the market value today.
Objections to a valuation
You may object to the valuations shown on your annual valuations, rates and charges notice.
Your objection must be lodged within 2 months from the date of the rate and valuation notice.
Before objecting to the valuation
Grounds for valuation objections
Make an objection
The objection process
Not satisfied with the decision
More about valuation
Further information on the valuation process is available through the Victorian Government.
Need help?
Email [email protected] and we will get back to you.
Or call our Customer Service team on 9298 8000.
