How are my rates calculated?
Rates are calculated by multiplying the Gross Rental Value (GRV) by the rate in the dollar.
The GRV is an estimate of the rent a property could earn in a year.
Where a property is vacant, the GRV is calculated as 5% of the market value of the land.
How is the rate in the dollar calculated?
As part of the adoption of the annual budget, the rate in the dollar is set. This is finalised prior to the issuing of the rate notices each August.
Can my rates be different from my neighbours’?
The Valuer General’s Office determines each individual property’s Gross Rental Valuation and if your house is of similar size and age as the house next door, then the values may be very similar.
Why is there a minimum rate?
To ensure that all ratepayers make at least a minimum contribution to the cost of providing the services that are available to the community.
Where does the valuation come from and what to do if I do not agree with the value?
The Valuer General’s Office is responsible for providing Gross Rental Values for every property in each local authority. The 2008/2009 rating year was a revaluation year.
If you believe that your property has been incorrectly valued you may lodge an objection with the Valuer General’s Office.
Contact details are: (08) 9429 8400 or simply log onto www.landgate.wa.gov.au
If you are unsure if you agree with the value, a simple way to check is to divide the GRV (located at the top right of the rates notice) by 52. This amount is what the Valuer General believes is a realistic weekly rental for your property.
If you wish to formally object, your objection must be lodged within 60 days after the issue date of the rates as shown on the top right hand side of your rate notice.
However, please be aware that if you lodge an objection, the account is still required to be paid in full by the due date of the rate notice. If the valuation is amended, an interim rate notice will be issued showing any adjustments.
What are interim rates?
When properties are subdivided or amalgamated or a new building is completed, the Valuer General’s office provide new valuations effective from the date that either the subdivision was approved or a new building was completed.
The City will issue an interim rate notice showing any amendments that have occurred.
Ie: In the case of a vacant lot now having a house/office/factory, the valuation will be amended from a “vacant” value to an “improved” value. New rates will be levied and any payments already received will be taken into consideration. An amended rate notice will be issued to the owner at the time that the adjustment is completed by the City.
In the case of a new subdivision/amalgamation, new values are received and again interim rates will be levied but a copy of the rate notice will also be forwarded to any settlement agents involved at the time. This is because settlement agents are quite often holding monies in trust to pay the rates. You will need to contact your settlement agent if this is the case.