Rates shock follows property revaluations
Rate notices were emailed or posted to ratepayers across the shire last week but some people’s rates rose significantly more than expected because of property revaluations.
Council adopted its budget in June, handing down a two per cent rate rise on ratepayers.
However, some ratepayers have received rate notices reflecting greater than two per cent increases following a revaluation of properties in January this year.
Graeme Lacey has lived on his Allambee Estate Rd property for 50 years.
He describes his 39-hectare property as “hill country” and admits it is a lifestyle property that is not eligible for the farm rate.
But, when he received his rate notice last week, he was shocked to see the capital improved value (CIV) of his property had increased more than $300,000 from $280,000 to $608,000.
At 0.3857 cents in the dollar CIV, this has seen Mr Lacey’s annual rate bill almost double from $1249 to $2337.
“It is a massive increase on the value when the property in total hasn’t improved at all,” he said.
Mr Lacey said he could not explain the massive CIV increase or the increased site value which jumped 155 per cent as a result of the revaluation.
He said there had been no significant real estate sales in his area and no major improvements to his property.
He said there were four farms and two lifestyle properties in his surrounding area.
Mr Lacey contacted the shire and said he would lodge an objection to the revaluation with a request that his property value be reviewed.
Council is required to conduct a revaluation of properties every two years.
The 2018 revaluation indicated the capital improved value of properties across all rating categories increased 21.8 per cent this year.
The 2018 general valuation saw 11,055 properties inspected including all 1533 commercial and industrial properties.
The biggest change in property values was in the commercial and industrial category, with properties increasing 31.5 per cent in value.
Farm properties increased 25.7 per cent in value to $2.7 billion.
The CIV value of residential properties increased 19.7 per cent.
A report to council said the revaluations involved an external inspection of each property to collect or confirm data requiring assessment.
All valuations were reviewed taking into account the latest market evidence for each type of property.
Acting chief executive officer Mark Dupe said rates provided an important source of revenue helping to resource and deliver over 100 valuable services to the community as well as capital works and improvements.
“Rates notices contain a lot of information, most of which is required by law. The newsletter accompanying each notice helps to breakdown some of this information including valuations, how rates are calculated, payment methods, concessions and rebates, as well as possible payment assistance for residents suffering genuine financial hardship,” Mr Dupe said.
About 1500 ratepayers have signed up to receive rates via email, or eNotices. These ratepayers would have received rate notices last week.
Mr Dupe strongly encouraged ratepayers to say goodbye to unnecessary paper printing and sign up for eNotices.
“eNotices are a really handy way to receive and manage rates notices. They arrive instantly to your email inbox where you can easily access and store your notice for future reference. It’s better for our environment and saves on delivery fees. Signing up is quick and easy, visit bawbawshire.enotices.com.au and follow the four simple steps,” Mr Dupe said.
Rates have been issued in accordance with the state government’s 2.25 per cent rate cap. The rate cap applies to the overall rate revenue collected by council, it does not apply to individual properties.
Ratepayers who pay their rates in full by September 30 will be eligible to go into the draw to win the early bird incentive of $1000.