What happens when you buy or sell a property?

 

The responsibility for the payment of Land Rates always remains with the property owner.

When a property is sold, as part of the conveyancing process a Certificate of Outstanding Rates and Charges is purchased from Council. This certificate shows the account balance for the property for the current financial year. At settlement, a calculation is made to determine both the seller's and purchaser's responsibility for the current years Rates.

Purchasers Responsibility = Total rates for the Year ÷ 365 × Number of days remaining in financial year.