The Valuer-General values all rateable land in Victoria each year. Which valuation basis may a council use when levying its rates?
Correct Answer
D) Any of CIV, NAV or SV, as the council chooses
Since 1 July 2018, the Valuer-General has carried out annual general valuations of all rateable land in Victoria. Under section 157 of the Local Government Act 1989, a council may rate on site value, capital improved value or net annual value, using those valuations. Most councils use capital improved value.
Why This Is the Correct Answer
Section 157 of the Local Government Act 1989 lets a council choose site value, capital improved value or net annual value as its rating basis, using the Valuer-General's annual valuations. Most councils use capital improved value.
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