The Andrews Labor Government is making land valuations fairer and more consistent.

Under legislation introduced into Victorian Parliament today, valuations will be conducted annually by the Valuer-General instead of by local councils every second year as they are currently.

By undertaking annual valuations, land and property values will be more accurate and up-to-date, ensuring taxpayers’ land tax bills will more accurately reflect the value of their landholdings.

The Valuer-General is best placed to undertake annual land valuations as they are able to let out larger contracts for valuation services across municipal boundaries, and have the expertise to manage valuation standards.

The changes follow extensive consultation with local councils and the MAV, and will make the valuation process more efficient and less costly.

Overall, councils will have no extra costs as a result of the move to yearly valuations.

Along with centralising the process, the Government will pay for the full costs of revaluations, with councils paying the full cost of the supplementary valuation component. It is estimated that councils will save $15 million every two years under the new arrangements.

The change will also resolve the inconsistency of the current arrangement, in which some valuations are undertaken by in-house valuers, some by the Valuer-General, and some by contract valuers across municipal boundaries.

The changes will begin in 2019, but Councils will have the opportunity to opt-out of the centralisation arrangement until 30 June 2022 to assist in the transition to the new arrangements.

For those councils that do not opt out of the centralisation, the Labor Government will provide funding to help with the transition, including administration, IT and other costs.

Quotes attributable to Treasurer Tim Pallas

“These changes make sense, and will make land valuations in Victoria fairer and more consistent.”

“We said we’d consult on these reforms with the local government sector, and that’s exactly what we’ve done.”

Quote attributable to Minister for Local Government Marlene Kairouz

“This measure will ease the burden on councils and ensure valuations are consistent across Victoria.”

Quote attributable to Rob Spence CEO Municipal Association of Victoria

“The Government has listened to the local government sector’s concerns. The reform is a sensible solution to a complex issue.”