How rates are calculated
Rates are allocated based on each property's Assessed Annual Value (AAV). The amount to be funded from rates and charges is based on the estimated cost of services and maintaining the facilities and infrastructure.
The State Government Office of the Valuer-General determines the AAV, together with the land and capital values, which are adjusted based on indexation factors every two years.
For more information about how valuation adjustment factors are calculated, visit: Valuation Adjustment Factors
From 2016/17 the City of Launceston applied a variation in rates under Section 107 of the Act by way of a differential rating structure based on the use or predominant use of a property. For more information relating to this please refer to our Rates and Charges Brochure(PDF, 1MB).
Revaluation of Municipality
The Office of the Valuer-General has conducted a full municipal revaluation of all properties within the City of Launceston municipality. The valuation was based on property values as at 1 July 2023 and applies for rates from 1 July 2024. A fresh revaluation occurs every six years, however this process was delayed due to the Covid Pandemic. In between revaluations, values are indexed every two years.
It is important to note that while property values are used to calculate rates; an increase in values does not mean an increase in rate revenue to Council. The change in relative values (ie. The increase in one property's value compared to another) will determine whether an individual property rates increase, decrease or stay the same when a revaluation occurs. The Cents in AAV figure (as detailed below) is adjusted to ensure that an increase in property values does not equate to a corresponding increase in rates payable.
For more information on property valuations please refer to the Office of the Valuer-General website at www.nre.tas.gov.au/land-tasmania/office-of-the-valuer-general.
Objections with supporting documentation should be lodged via their objections process by reviewing www.nre.tas.gov.au/land-tasmania/office-of-the-valuer-general/objecting-to-a-statutory-valuation.
Should you have other specific queries relating to your property you can contact the Office of the Valuer-General via email on ovg@nre.tas.gov.au or by calling 6165 4444 and asking for the Valuation Department.