WOLLERT residents will bear the highest rate rises next financial year, while Mill Park, Lalor and Thomastown will see little change.
Average land values in the City of Whittlesea have risen two per cent since 2010, while industrial land values have fallen. All 72,500 properties in the municipality have been revalued, as required every two years by state government legislation.
Residential, rural and commercial properties rose an average of two per cent, while industrial land fell 6.4 per cent during the same time.
The biggest rise, 11 per cent, was recorded in Wollert, followed by Mernda (eight per cent) and Whittlesea and Dorren (both seven per cent).
Lalor and Thomastown values rose one per cent and Mill Park fell one per cent.
Whittlesea council property and valuation services manager Gino Mitrione said revaluations had no effect on rate revenues. Their purpose was to redistribute rates more fairly, based on updated valuations.
“Property values are used to calculate rates on individual properties to work out how much each ratepayer will pay towards council services,” he said. “In general terms, if your property has increased in value at a greater rate than other
properties in the City of Whittlesea, your rates will increase by a higher proportion.
“If your property value has dropped or risen at a slower rate than others, your rates will increase by a lower proportion.”
Independent valuers looked at land size, condition and location of properties and any improvements on the land, Mr Mitrione said, as well as recent property sales of similar
properties.
Ratepayers will receive rates notices for 2012-13 after the
council completes its annual budget, expected to be in late July.
