How your rates are calculated

How are my rates calculated?

To meet the rate cap of 2.25% for 2018/2019 Central Goldfields Shire Council has set a rate in the dollar of 0.5131 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 $0.00513100 = $1026.20 (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. 

 

 

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

0.5131

General rate (residential property) – other

0.4105

Vacant Land – Maryborough

0.9236

Vacant Land – other

0.7697

Commercial – Maryborough

0.8210

Commercial – other

0.6157

Industrial

0.5644

Farm Land

0.4105