The property market has changed, why hasn't my valuation?

It is important to remember that even if the property market has changed, that doesn’t necessarily mean that your property valuation will reflect this change in the current year. 

This is because rates notices are issued eight months after the valuation date (1 January) and while the market can change a lot during this time, your valuation is based on property sales leading up to the valuation date. 

So if the property market prices change after 1 January in any year, this will have no impact on the property valuations that have already been made. This is consistent for all Victorian councils.