Property owners recently reviewed new valuations from QV

Published: 27 March 2024

Last Updated: 24 April 2024

What’s the link between my rates and my property valuation?

Property revaluations are carried out every three years by QV, and don’t necessarily mean a rates increase. Council sets a budget for the upcoming year including the total amount of rates required to meet the budgeted expenses. Property valuations determine what share of rates a property pays relative to other properties. Therefore any increase in property value does not mean an increase in rates if all other properties increase by the same percentage. The Rateable Value is just used as a percentage marker in the calculation.

This analogy might help:
Total rates increase in the city determines the size of the cake. QV’s property valuations help us determine how to cut the cake. Revaluations don’t change the size of the cake, they just change how we cut the cake. Rates increases for the city (as set by Council) are what increases the size of the cake.

There’s a rates calculator on our website where you can check what the proposed rates for 2024/25 could be for your property. 

What is a rates rebate and how to get one

If you are on a low or fixed income and you have not yet applied for this rating year, you may be eligible for a rates rebate of up to $750.

If you have paid your rates in full already, you can still apply for a rebate. Property rebate applications close for the current financial year on 30 June 2024.

Learn how to apply for a rates rebate here.

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