Find out how we calculate your rates, including information on waste service charges, fire services property levy and rate capping.
For 2024/25 the rate in the dollar is 0.0338081370.
How we calculate the rate in the dollar
To calculate the rate in the dollar, we follow these steps.
- Determine the total amount needed to deliver services and infrastructure for the next financial year, within the constraints of the rate cap.
- Divide that amount by the combined value of all rateable properties in Yarra.
This equals the rate in the dollar. We then apply the rate in the dollar to your property.
How to calculate your rates
To calculate your rates for the year, you must know your:
- capital improved value
- net annual value
- current rate in the dollar – 0.0338081370 in 2024/25
The capital improved value of your property is the total market value of the land plus buildings and any other improvements.
To calculate the net annual value of your residential property, multiply its capital improved value by 5%. Commercial and industrial properties are rated similarly but include an additional component.
To calculate your rates for the year, multiply the net annual value of your property by the rate in the dollar: 0.0338081370.
- Capital improved value = $800,000
- $800,000 x 5% = $40,000 (Net Annual Value)
- $40,000 x 0.0338081370 (Rate in the Dollar) = a base rates bill of $1,352.32548
Waste services charges
We now list waste service charges as a separate item on your annual rates notice. Separating these items helps account for rising waste and recycling costs and is in line with other Victorian councils.
Learn more about separated waste service charges.
Fire services property levy
Your rates notice includes a separate fire services property levy. We collect this on behalf of the State Government to fund the Metropolitan Fire Brigade and the Country Fire Authority (CFA).
Although this levy appears on rates notices, it is not a council charge for council services. It replaces the existing levy that insurance companies charged in your home insurance premiums.
The levy comprises:
- a fixed component of $132 for residential properties
- a fixed component of $267 for non-residential properties
- a variable component based on a percentage of the capital improved value of the property.
- a variable State Government component.
Concession is available to some Department of Veterans Affairs gold card holders and Pensioner Concession Card holders.
For more information on how to calculate the levy, visit the State Revenue Office Victoria website.
What is rate capping?
The State Government has capped rate increases at 2.75% for 2024/2025 and we have elected to apply this 2.75% increase rather than seek an exemption from the cap.
It is important to remember that the 2.75% cap does not apply to your individual bill but rather to the total amount of money that we are seeking from rates revenue. Most properties will experience rate increases that are slightly higher or lower than 2.75%.
The MAV has produced this short video explaining rate-capping in simple terms.