Each year the Valuer-General's Office provides Council with an Assessment Record, which lists all of the properties within the Council area. It includes information about the property, such as the owner, size, valuation, land use and any improvements, e.g. houses and sheds.
In the Assessment Record, each property is given two values, a capital and a site value. The site value is the value of the land excluding any improvement. The capital value is the value of the land, plus the improvements. These values can fluctuate from year to year. Factors that affect the values include the value of the sale of neighbouring properties, as well as any extensions or developments done to an existing property.