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.
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