How your rates are calculated

How are my rates calculated?

To meet the rate cap of 2.5% for 2019/2020 Central Goldfields Shire Council has set a rate in the dollar of 0.4950 cents for general rate properties.

This figure is then multiplied by the Capital Improved Value (CIV) of each property to determine how much the property owner will pay.

An example of the general rates calculation for a residential property in Maryborough with a valuation of $200,000 would be:

$200,000 x $0.004950 = $990 (excluding waste charges, the municipal charge and the Fire Services Levy). 

The Understanding Your Rate Notice brochure is also available here(PDF, 1MB)

VIDEO: Municipal Association Victoria have released a short video to explain how rate capping works and how rates are calculated. You can watch the video here. 

Still have questions? You can download Frequently Asked Questions here(PDF, 616KB)

 

What are differential rates?

Central Goldfields Shire Council levies a General Rate and eight differential rates as shown in the table below:

Rate type

Cents in the dollar (2018/2019)

General rate (residential property) – Maryborough

0.0.4950

General rate (residential property) – other

0.4158

Vacant Land – Maryborough

0.8910

Vacant Land – other

0.7722

Commercial – Maryborough

0.7920

Commercial – other

0.6336

Industrial

0.5445

Farm Land

0.3960