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I looked at the City Of Port Phillip website because i know they had rate information and calculations. Based on a $200,000 differential in the valuation of your property, this equated to paying $371.35 more in rates.

When looking to validate a true estimation of the value of your property, ignore council valuations on your rates notice. They are next to useless. If your council valuation was $200k less, then what is the difference in rates you would be paying? As for bank valuation, well that is...