Rateable value is also know as capital valuation (CV) or government valuation, it’s all the same term.
It’s purpose is mainly for rating. However people do use it as a general guide to a properties value.
You need to be very careful about using RV to determine what a property is worth.
It’s only valued once every three years so it doesn’t reflect any of the changes in the market within that time. It also doesn’t take into account changes in the property for better or worse.
There are much better ways to value your property. (See our article How to price your home.)
Rateable value gives you a generalised ball park figure. It’s better as a guide to suburbs rather than individual properties.
While it’s only a guideline a very low RV could potentially hold your property back in the eyes of buyers. If you think this is the case you can get the council to come out to your property and have it revalued.
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