Each year, the Valuer-General Victoria provides Nillumbik Shire Council with a valuation of your property. This valuation is used by Council to calculate your rates.
There are three valuations shown on your rate notice:
- Site Value (SV): the value of your land only, without improvements (such as buildings)
- Capital Improved Value (CIV): the assessed market value of your property including both land (SV) and all improvements (such as buildings)
- Net Annual Value (NAV): a minimum of 5 per cent of CIV (higher for some non-residential properties).
Council uses your property's CIV to calculate your rates.
More information
Land tax and vacant residential land tax
If you own a property that is not a principal place of residence, you may be liable for Land Tax. Furthermore, landowners of certain properties that are vacant for more than six months may also need to pay the Vacant Residential Land Tax (VRLT).
Note that Land Tax and VRLT are calculated and collected by the State Revenue Office, not by Council - any enquiries should be forwarded to the State Revenue Office.
Land Tax
Land Tax is an annual tax based on the total taxable value of all the land you own in Victoria, excluding exempt land such as your home (principal place of residence).
It is calculated using the Site Values (determined by the Valuer-General Victoria) of all taxable land you owned as at midnight on 31 December of the year preceding the year of assessment.
You may have to pay land tax if you own, either individually or jointly with others:
- investment properties, including residential rental properties
- commercial properties such as retail shops, office premises and factories
- holiday homes
- vacant land.
Land Tax assessments are issued by the State Revenue Office (SRO) to the owner of the land between January and June each year.
To learn more, visit Land tax | State Revenue Office (sro.vic.gov.au)
Vacant Residential Land Tax
Some landowners who pay Land Tax may also be liable for the Vacant Residential Land Tax (VRLT), which applies to residential land that is vacant for more than six months in the preceding calendar year.
For the purposes of VRLT, residential land includes:
- land with a home on it
- land with a home which is being renovated or where a former home has been demolished and a new home is being constructed
- land with a home on it that has been uninhabitable for two years or more.
Residential land does not include commercial residential premises, residential care facilities, supported residential services or retirement villages.
Unimproved residential land (land without a home on it) in metropolitan Melbourne that has remained undeveloped for at least five years and is capable of residential development may attract VRLT from 1 January 2026 onwards.
VRLT is assessed by calendar year (1 January to 31 December) and the owner of the property is liable for it. However, VRLT for any year is assessed on the previous year’s occupation of the property. For example, VRLT in 2025 is based on a property’s vacancy in 2024 calendar year.
You must notify the SRO by 15 January if you own residential land and it is vacant for more than six months in the preceding calendar year.
To learn more, including notifying the SRO, visit Vacant residential land tax | State Revenue Office (sro.vic.gov.au)
Rating and Valuation staff have the right to be treated with dignity and respect. Threatening or any act of aggressive and/or abusive behaviour will not be tolerated. The Valuers are required to provide you with a reasonable opportunity to discuss your objection. If threatening, aggressive or abusive behaviour is demonstrated, your objection may be determined without further discussion. If you are dissatisfied with this outcome, you have the option to make an application to the Victorian Civil and Administrative Tribunal for a review of this decision.
If you have any questions about the value of your property as shown on your rate notice, please contact us first to get a clearer understanding of your valuation.
If you would like to submit a formal objection, you will need to lodge your objection via the online portal.
Please note:
- You must lodge an objection via the rating valuation objections portal within two months of the issue date of your annual rate notice.
- Even if you object to a valuation, you must still pay your rates by the due date.
- You should provide as much supporting evidence as possible with your objection.
Lodge an objection
After you lodge an objection
A valuer from the Valuer-General's Office will contact you to discuss your concerns and organise a time to inspect your property. Factors including sales of surrounding properties, property data and property condition will be considered by the valuer.
You will be advised of the outcome in writing within two months. Council will advise you in writing of any adjustment.
If you are still unhappy with the valuation
A ratepayer who is not satisfied with the decision of the valuer or the Valuer-General may apply to the Victorian Civil and Administrative Tribunal (VCAT) for review of the result.
Both the Valuer-General and the ratepayer present their case at VCAT and the tribunal will make a final decision based on the evidence presented.
More information
For more information about objecting to a valuation, contact:
Rates and Valuations
Phone: 9433 3285
In certain circumstances, valuations are conducted between annual valuations.
These are known as supplementary valuations.
A supplementary valuation is required when a property is:
- physically changed, for example, when buildings are altered, erected or demolished
- amalgamated
- subdivided
- rezoned, or
- portions are sold off.
If a supplementary valuation is done on your property and the property value changes, Council will send you a notice about amended rates and valuations.