Council lowers Rate in Dollar for 2018/19
Due to an unanticipated change in valuations Council will lower its rate charge from the amount quoted in the adopted 2018/19 budget to ensure that rates are kept to an affordable level for all ratepayers.
Council bases its rate charge on a valuation figure of all rateable properties across the municipality. Basically, the rates charged on any individual property will be that property's valuation multiplied by the rate in the dollar as set in Council's budget.
To calculate the rate in the dollar Council needs to know the amount of rates that it needs to raise and the total valuation of all rateable properties across the shire.
Valuations are given to Council by an independent valuer and certified by the Victorian Valuer-General.
The final valuations of properties across the shire have increased significantly more than Council anticipated in its budget. To ensure that ratepayers are not hit with significant rate increases this year Council has elected to reduce the rate in dollar charge from that which was published in the adopted 2018/19 budget. This will ensure that ratepayers are not hit with significant rate increases as a result of their property valuations increasing and also that Council does not raise more rates than it needs to.
There is nothing individual ratepayers need to do – initial rate notices will be sent based on the revised rate in the dollar.
As with any year, Council reminds ratepayers of the importance of checking the information on your rate notice when you receive it. If you believe the valuation on your rate notice is incorrect please contact Council immediately, ratepayers have two months from the date of the rate notice to object to their valuation. Objections received more than two months after the issue of the rate notice cannot be accepted.