phil, in your post you say:
"The question is, what will they do to make up the shortfall in revenue as rates go down ... which they will as valuations go down ... like verything else (except cash)."
The local councils have a fantastic way of budgeting - it's called "bottoms up".
Quite simply it doesn't matter the slightest what your property valuation is! The council will work out what they need to spend in the coming year and tax property owners accordingly. That is, your local council rates are proportionate to the value of your property/the total value of properties and the council funding needs.
$50 per share in 2017, page-36
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