Rates Notice

We have just received our first rates notice as property owners.

Rates are paid to the Council annually. The amount depends on the value of the property as assessed by the Council valuer. There is also a levy for garbage and municipal services.

I was particularly intrigued by the Capital Improved Value of our property (the value of the land plus the house and any improvements).

This time last year, when we first saw the rates notice forwarded by the previous owners, the CIV was $207,000.

One year later, the CIV is $261,000.

That's an astonishing 26% increase in value.

In our household, a request for payment in any form is usually met with a "bo pian" groan or a sigh.

But in this case, I think a smile is in order.

After all, if your rates go up because your property value has gone up, that can't be a bad thing, can it? :-)