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CIV - Current Improved Value, what this mean to you ?

Discussion in 'General Property Chat' started by apk, 26th Jul, 2016.

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  1. apk

    apk Well-Known Member

    Joined:
    11th Aug, 2015
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    69
    Location:
    VIC
    CIV, as the title suggests what it means to you. Do you guys look at this in section 32 to see the gap between CIV to market value ?
     
  2. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,546
    Location:
    Melbourne, Australia
    CIV - What the council thinks it is worth and will do their rates based off this.. Typically lower than MV as people will complain if their rates are based off higher than what they perceive as MV and will end up costing the council more.

    MV - What the market will pay (what you would be likely to pay)... Typically higher than CIV.

    Should you pay attention to the S32 CIV amount, i would spend 2 seconds looking at it and then move on and find comparable sales.
     
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