Rates notice explained

Note: This example has been prepared as a guide only, the information and figures may not be a true reflection of a current rates notice.

rate notice explained.png  

Legend:

  1. Rating year: The period relating to this notice, effective from 1 July to 30 June each year.
  2. Assessment No.: Council’s identification of your property.

  3. Option 1: Your rates and charges amount due by 15 February each year. Late payment will incur interest charges.

  4. Option 2: Your rates and charges amount due in instalments by the respective dates. Payment of the 1st instalment must be received by 30 September each year to be eligible for the instalment payment system. Late payments will incur interest charges.

  5.  Particulars of rates and charges:The Capital Improved Value (CIV) is used to calculate differential rates on property types, as detailed below. Rates are charged as cents in the $ of the CIV.

  • General / Residential rate: Charged at a differential rate of 0.3514 cents in the $ of the CIV.
  •  Commercial/Industrial rate: Charged at a differential rate of 0.4393 cents in the $ of the CIV.

  •  Rural 1 rate: Rateable land not less than 40 hectares. Charged at a differential rate of 0.2460 cents in the $ of the CIV.

  •  Rural 2 rate: Rateable land greater than 4 hectares and less than 40 hectares. Charged at a differential rate of 0.3479 cents in the $ of the CIV.

  •  Vacant Developable Land: Vacant Land, located within defined Council planning zones, that is currently undeveloped. Charged at a differential rate of 0.5271 cents in the $ of the CIV.

  •  Municipal charge: An equal charge to all ratepayer’s which is used to help distribute the burden of rates, which would otherwise be collected in the form of rates attached to the value of the property.

  •  Garbage charge: Garbage collection service charge.

  •  Recycling charge: Recycling collection service charge.

6.  Fire Services Levy: State Government charges collected by Council. This levy is made up of a fixed charge and a variable charge.

7.  Site Value: Market Value of the land excluding improvements.

  • Capital Improved Value (CIV): Market Value of the property which takes into account the land and improvements fixed to the land. The rates and charges you pay are based on the CIV of the property.
  • Net Annual Value: Annual rental value of the property, calculated at approximately 5% of the CIV value, with a higher % for commercial based property. 

8.  Pay information: Biller code 21360 (rates only) and reference number must be quoted at time of payment.

9.  Paying your account Online: You can pay your account over the internet via Council’s website at www.murrindindi.vic.gov.au. Your Property Reference No. is the same reference number as the BPay Reference No.