How are Rates, ESL and GRV Calculated?
Rates for each property are determining by multiplying the City’s ‘rate in the dollar’ by the Gross Rental Value (GRV) of the property. For example: In the 2008/2009 financial year, the South Perth ‘rate in the dollar’ is 0.06. This means that 6 cents will be levied as rates for every dollar of GRV assigned to a property. The Valuer General may determine that a brick and tiled house in South Perth which contains 4 bedrooms, lounge, kitchen, bathrooms, laundry, and double carport could attract a rent after basic expenses of $450 per week. Rent of $450 per week multiplied by 52 weeks per year gives a Gross Rental Value of $23,400. GRV = $450 x 52 = $23,400 The rates to be levied against that particular property would be: Rates = $23,400 x 0.06 = $1,404.60 Gross Rental Value of $23,400 multiplied by the rate in the dollar of 0.06 gives the value of rates for the property of $1,404.00. The Emergency Services Levy (ESL) which is payable to FESA not the the City of South Perth, levied agains
Rates for each property are determining by multiplying the City’s ‘rate in the dollar’ by the Gross Rental Value (GRV) of the property. For example: In the 2009/2010 financial year, the South Perth ‘rate in the dollar’ is 0.0635. This means that 6.35 cents will be levied as rates for every dollar of GRV assigned to a property. The Valuer General may determine that a brick and tiled house in South Perth which contains 4 bedrooms, lounge, kitchen, bathrooms, laundry, and double carport could attract a rent after basic expenses of $450 per week. Rent of $450 per week multiplied by 52 weeks per year gives a Gross Rental Value of $23,400. GRV = $450 x 52 = $23,400 The rates to be levied against that particular property would be: Rates = $23,400 x 0.0635 = $1,485.90 Gross Rental Value of $23,400 multiplied by the rate in the dollar of 0.0635 gives the value of rates for the property of $1,485.90. The Emergency Services Levy (ESL) which is payable to FESA not the the City of South Perth, levi
