How your rates are calculated

  • To see how rates for your property are calculated, refer to the 'post-it' note on the front of your 2018–19 rates notice – it shows how the rates on your specific property are calculated.
  • The 4 rates instalment amounts shown on the front of the rates notice equal the annual total due for 2018–19.

Like most councils in Victoria, we use a property's Capital Improved Value (CIV) to calculate rates. This is the property’s value including site value (land), buildings and other improvements. 

When drafting the budget for the financial year, we calculate how much income we need to provide essential services and facilities for that year. This income is divided by the total CIV of all properties in the shire and is then known as the 'rate in the dollar'.

Each property class (see table below) has a different rate in the dollar. Rates are then calculated for each property by multiplying its CIV by the rate in the dollar.

Rates-in-the-dollar for 2018-19
Levy Rate in CIV ($)  Description
Urban rate 0.002893 Land with a dwelling in the Urban Growth Corridor except in Lakeside Estate. 
Urban commercial and industrial 0.003958 Commercial, retail and industrial properties in the Urban Growth Corridor. 
Lakeside residential 0.002948 Land with a dwelling in Lakeside Estate. 
Lakeside vacant land 0.006367 Vacant residential land in Lakeside Estate. 
Urban agricultural land 0.00232 Farms of 40 or more hectares in the urban growth corridor. 
Urban vacant land 0.006367 Vacant residential land in the urban growth corridor and not in Lakeside Estate
Agricultural land  0.002048 Farms of 40 or more hectares outside the urban growth corridor. 
Base rate  0.002728 All properties that do not fit into any of the types above. 

 

Capital Improved Value (CIV) of your property
x rate in dollar
= Council charges
+ 
Victorian Government charges 
+  
waste charges
+ or –
any credit or arrears
–
Pensioner or DVA concession
= 
Annual total due

 

 

The owner of a property with a CIV of $500,000 in the Urban Rate category (0.002893) will pay $1,446.50 in rates.

The calculation is:

$500,000 x 0.002893 = $1,446.50 (excluding extra waste service charges).