Victorian Spatial Showcase · 2019-12-20 · Housing, Commercial leases, Development, Education...
Transcript of Victorian Spatial Showcase · 2019-12-20 · Housing, Commercial leases, Development, Education...
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
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2019 Revaluation Dashboard