Valuations Explained

On your rate notice there are three Valuation figures SV, CIV and NAV.

Site Value (SV) which is the market value of the land only.

Capital Improved Value (CIV) which is the total market value of the property including land, buildings and all other improvements - this is the value that Council uses to calculate the annual rates.

Net Annual Value (NAV) in the case of a house, land or farm is a mandatory 5% of the capital improved value.  In all other cases it represents the net rental value of a property.

The requirements of Municipal Valuations are governed by the Valuation of Land Act 1960.

From 2000 Council has been required to conduct a general valuation of all rateable property every two years. The current valuation has a base date of 1 January 2010.

Property values are determined by Council's Valuer who conducts an analysis of all property sales and rental evidence, which is then applied to the information that is known about each individual property.

Information is compiled on each property by referencing inspection reports, building and planning permits and other public sources.