Local Government Victoria - Valuation Averaging Mechanism

Published on 09 June 2023

VALUATION AVERAGING MECHANISM – ENGAGE VIC CONSULTATION

Local Government Victoria has initiated a public consultation to examine the merits of a Valuation Averaging Mechanism. This consultation aligns with the supported recommendation from the 2020 Local Government Rating System Review Final Report and the Government's response, both of which were published in 2020 and can be found here.  Recommendation 7 of the Final Report was that the Victorian Government examine the merits of a valuation averaging mechanism to reduce the impact of large changes in valuations on rates.

As part of this consultation process, a Discussion Paper has been prepared, including modelling of the potential impacts of a Valuation Averaging Mechanism. This paper aims to facilitate public understanding and solicit feedback to determine the merits of such a mechanism.

Local Government Victoria will evaluate the public feedback received in response to the questions provided in the Engage Vic consultation link. The findings will be presented to the Minister for Local Government for consideration later this year.

We encourage you to participate and have your say.

The consultation will remain open until August 31 2023 and can be accessed at https://engage.vic.gov.au/local-government-rates-valuation-averaging-mechanism.