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Council Accepts New ValuationsCouncillors last night adopted the new valuations for rateable properties in the East Gippsland Shire effective at 1 January 2006. By East Gippsland Shire Council - 9th June 2006 - Back to News The 2006 Revaluation has resulted in a 24.16% increase in the Capital Improved Value of the properties.
All properties in victoria are valued simultaneously on 1 January every second year in accordance with the Best Practice Specification Guidelines and in support of State legislation first adopted for the 2000 general valuation.
The valuations are:
Site Value Capital Improved Net Annual
Value Value
New Valuation as at 1/1/2006 $4,134,629,900 $7,394,972,500 $396,084,247
Old Valuation as at 1/1/2004 $2,796,933,149 $5,963,006,950 $319,801,995
Increase in Valuations $1,337,696,751 $1,431,965,550 $76,282,252
In April last year a contract to value residential, rural, commercial, industrial and specialised including non-rateable properties in the shire was awarded to Central Gippsland Valuations of Sale.
Ratepayers have a right under the valuation of land act 1960 to make an enquiry or lodge an objection if not satisfied with the result of their valuation.
Source: http://gippsland.com/ Published by: news@gippsland.com
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