Victorian Spatial Showcase

Hosted by Strategic Land Assessment and InformationTuesday 10 December | State Library Victoria

Enabling the delivery of Victoria’s major projectsRobert Marsh Valuer-General of Victoria Strategic Land Assessment & Information | Land Use Victoria Department of Environment, Land, Water and Planning

Evolution of valuations in Victoria

Valuer General Victoria functions

Housing, Commercial leases, Development,

Education sites, Melbourne Metro Rail

etc

Valuations for government

Municipal rating

valuations

Property market trends

and rating valuation outcomes

Quarterly Property Sales Report, Annual

Guide to property Values, Dept of

Treasury indices

Council Rates, Land Tax and Fire Services Property Levy, ARMB service charges etc

Record levels of activity…

State of Victoria

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

2006 2008 2010 2012 2014 2016 2018 2019

Residential Commercial Industrial Rural NRL

3.1 million assessments

$120 billion

property traded per annum

$2.3 trillionprivate property

value

…generating considerable economic benefit

Local Government Rate State Land Tax

Fire Service Levy Metropolitan Improvement Levy

LocalGovernment

Rates($5.3b*)

StateLand Tax($3.4b*)

* 2019/20 budget figures

Metropolitan Improvement Levy ($174m*)

Fire Service Levy ($698m*) $9.6

billionrevenue

generated

2019 – Centralised, Annual Valuations in Victoria

3,099k

47k

161k

84k

169k

2,638k

3,033k

44k

159k

82k

167k

2,581k

$2,291

$77.3

$125

$102

$229

$1,758

$2,299

$76.6

$114

$94

$217

$1,797

($bil)

2.2% 0.4%

Number of Assessments Capital Improvement Value

3.1m $2.3t

Residential

Commercial

Industrial

Rural

NRL

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

’18’19

2019 Revaluation Dashboard