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Bass Coast Shire Values Rise By 6.82 PercentBass Coast Shire Council has completed its 2006 revaluations. By Bass Coast Shire Council - 23rd June 2006 - Back to News Property values in the Shire increased by an average of only 6.82 percent over the last two years.
This is compared with an average increase in property values by 81 percent in 2004 and 51 percent in 2002.
Council’s Manager of Property Valuations, Russ Anthony, described the increase as modest compared with the last two revaluations.
"This reflects far less buoyant property conditions than experienced in recent years.
"Some property categories have continued to increase, while others have remained static or decreased."
The revaluation shows the highest increases in value were in:
- The lower end of the residential market on Phillip Island, which has experienced a catching up effect;
- The specialised properties across the Shire (ie. tourist oriented properties);
- Rural properties, especially on the mainland; and
- The mainland urban areas of North Wonthaggi, South Wonthaggi, Dalyston and South Dudley.
"While these properties have shown the highest increases, their overall rise is still low when compared with previous years," said Mr Anthony.
Increased property values, further informed Mr Anthony, do not increase the total amount of money a council collects in rates.
"Valuations redistribute the amount of rates paid between individual properties.
"Some ratepayers will pay more and some will pay less, depending on the new value of their property relative to other properties in their municipality.
"A council budget determines how much a council collects in rates – not property valuations," said Mr Anthony.
"If people have a concern about the valuation of their property, which will be shown on their next rate notice, please feel free to contact Council’s Valuations team on 5671 2211 or 5951 3311," continued Mr Anthony.
Source: www.gippsland.com Published by: news@gippsland.com
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