This year Landgate has calculated new property valuations for all rateable properties in WA.
The updated Gross Rental Valuation (GRV) will have an impact on the amount you pay in rates.
If your house would earn more on the rental market now than it would have three years ago, you will see an increase in your GRV.
This year, the GRV for most properties in the City of Vincent has increased by about 20 per cent, and most ratepayers will see little to no difference when the updated valuations are applied.
But if you have made significant improvements to your home over the three years, such as a pool or extension, you are likely to see a larger increase.
The final rate figure applied to each property in Vincent varies based on the applicable rate in the dollar and the GRV for the property.
If you have any questions about your rates, please call or email our rates team.
FAQs
What is a GRV?
The Gross Rental Valuation (GRV) is determined by the Valuer General's Office and is the value used to calculate the total value of rateable properties. It’s an estimate of how much your property would earn if it was rented out and is recalculated every three years.
What does rate in the dollar mean?
The rate in the dollar figure is calculated by dividing the total amount of money to be raised in general rates by the total value of all rateable properties per category. This figure is then multiplied by the GRV to determine the amount you will pay in rates.
What are differential rates?
The City uses a differential rates system to determine the final rates figure you will pay. This allows us to apply rates differently according to property classification, which helps to ensure a more equitable ratings system.
What happens if I’m struggling to pay my rates?
We offer flexible payment plans or rates smoothing, by direct debit. This allows you to pay your rates in small instalments. You may also be eligible for assistance from our financial hardship fund. This is open to ratepayers facing demonstrated financial hardship and allows you to defer payments, interest free, for a period of six months.
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