The Capital Improved Value (CIV) system is the most commonly used valuation by Victorian Councils. It takes into account the full development value of the property and is also reflective of the general market value of the property as at the date of valuation.
The CIV system also allows residents to see how much they are paying for waste management. This cost was previously absorbed into the overall rates residents paid.
The calculation for CIV has a general rate for residents and a differential rate is applied to other types of land, such as commercial, industrial and vacant land.