This entity describes that average valuation change for each rating unit since the last government valuation (which occurs every three years).Under both the Rating Valuations Act 1998 and the Local Government (Rating) Act 2002, the Council is required to value all properties for rating purposes.A rating unit is described as a parcel, group of parcels under common ownership, or a strata parcel which is defined as a rateable Property under the Local Government (Rating) Act 2002light fittings), stock, crops, machinery or trees.A rating valuation (or capital valuation) reflects the property's market value on the date of the valuation. It does not include chattels (e.g. carpets, drapes).It is spatially abstracted to an area.Entity Type: Concept.
