How are my rates calculated?
General rates are calculated using the valuation of your property and the rating differential rate in the dollar.
The value is determined by sales of similar properties in the local area. If the property market is experiencing high or low sales, this will be reflected in that year’s valuation.
How are my rates calculated?
The City of Ballarat calculates your rates by multiplying two figures - your property’s Capital Improved Value and the rate in the dollar amount declared by the City of Ballarat during the budget process.
For example, if Joan owns a residential property in Ballarat Central and her property valuation and rates notice shows her Capital Improved Value (CIV) as $425,000 in 2023/24, Joan’s amount payable would be calculated as the following:
|0.00283907 x $425,000
|Waste management charge
|1 x $457.00
|Green waste services charge
|1 x $72.00
|Fire Services Property Levy (Residential)
|$125.00 + (0.000046 x $425,000)
What are the different types of valuations?
The three types of valuations and land tax:
Site Value (SV): the market value of the land only. This is used by the State Revenue Office to assess any land tax under the Land Tax Act 2005.
Capital Improved Value (CIV): is the total market value of the land as well as the buildings and any other improvements such as fences, sheds, swimming pools etc.
Net Annual Value (NAV): for residential properties is 5% of the Capital Improved Value. For commercial or industrial property’s, it is either the property’s net annual rent or 5% of the Capital Improved Value, whichever the greater. Rates are calculated using the Capital Improved Value of the property. Details of the valuation of your property are on your rate notice.
How often are properties valued?
The Valuation of Land Act 1960 requires all properties within Victoria to be revalued on an annual basis. Your property’s valuation is based at 1 January each year.
What happens if I disagree with my rates valuation?
If you disagree with the valuation, you may object. Objections must happen within two months of the date of issue on the notice and must be submitted online.
Objectors must still pay rates by the due date. If you don’t pay your rates by the due date, you may be charged interest on amounts owing.
After receiving an objection, the valuer will discuss the valuation with you. You will be advised of your objection outcome by writing. If an amendment to the valuation is recommended, this must be approved by the Valuer General. If you are not satisfied with the decision, you may appeal to the Victorian Civil and Administrative Tribunal (VCAT).
What are the waste and green waste management service charges?
Your Waste Management and Green Waste Services Charge (if applicable) are shown separately on your rate notice.
The waste management service cost for 2023/24 is $457.
Waste management charges have increased by 6.25% due to the increase of the Victorian Government’s Environment Protection Authority (EPA) Levy, which is $97.85 of each waste charge.
There is no increase in the Green Waste Service Charge, and the Waste Management Service Charge has increased by 3.5 percent ($15 per property) to meet the increasing costs of managing waste and landfill.
The green waste service cost for 2023/24 is $72.
This includes the fortnightly collection of green waste where the service is provided.
Fire Services Property Levy
The Victorian Government made all local councils the responsible authority for collecting the Fire Services Property Levy (FSPL).
This means that all property owners are contributing to the fire authorities, not just those who have household insurance.
This charge is set by the Victorian Government and is not subject to the rate cap. The money is passed along to the State Revenue Office quarterly.
What is the rate in the dollar?
The rate in the dollar is an amount set by the City of Ballarat to fund services, projects and capital works.
The 2023/24 rate in the dollar is outlined in the following table:
|Rate in the dollar on CIV
The City of Ballarat has decided to levy a nil rate in the dollar for properties eligible to be rated under the provisions of the Cultural and Recreational Lands Act (1963), i.e. classified as Recreational 1.