How do you determine
the value of my property?
Depending on real estate market trends, properties in some parts of the
City go up in value at a greater rate than others.
General property valuations are now carried
out annually by the Valuer-General Victoria; not by the City.
What does the valuation change do to my rates bill?
An increase in the value of your property
does not automatically result in an increase in your rates.
Individual rates notices are affected by
fluctuations in the value of all properties across the municipality.
If your residential property rose in value
by more than the average (13.1 per cent), your rate increase may be higher than
the 2.5 per cent rates cap.
On the other hand, land owners with lower
than average increases could expect to see a decrease in their rates.
I’m struggling to
pay my rates. What are my options?
There are a number of different options
available, depending on your circumstances.
The City will directly contact ratepayers
who are eligible for a rates assistance waiver.
This is offered to eligible residential and
farm owners whose property increased in value by more than 50 per cent and who
meet the criteria.
Other affordable payment arrangements,
including the deferral of rates, are considered on an individual basis for
people experiencing financial difficulty.
For more information visit www.geelongaustralia.com.au/rates