Te wāriu rawa

2023 property revaluations

The 2023 district-wide revaluation and new values apply for rating purposes from 1 July 2024.

The valuation process

We provided our valuation service provider Lewis Wright with detailed records of each property. Those records are kept up-to-date by property inspections for building consents, subdivisions and sales analysis.

Lewis Wright made a detailed review of all relevant sales to ensure that the new value fairly represents the market on 1 August 2023.

If you're selling or purchasing a property you should consider a market valuation from an independent valuer. A market valuation will take into account current property market factors and includes chattels. The rating valuation uses sales data excluding chattels, of similar homes in your area at a particular point in time.

Objections to rating valuations

Rating valuation objections closed 31 January 2024. For more information about objections

How does my valuation affect my rates?

If your valuation increases by 25% it does not mean rates increase by 25%. Your rates do not depend only on your valuation.

An increase in values does not increase the overall rates collected by Council.

Rateable values are one component of calculating rates and are used to provide the basis for allocating some of the rates required across all properties in the district.

The budget total Council needs each year is set in the Annual Plan process. Other income sources for Council are also considered before setting the rates for the year.

This revenue sought is then divided across all ratepayers using a combination of factors including the rating value of your property.

Council endeavours to settle all objections to the District Rating Revaluation prior to 1 July. This may take longer for late objections or if the objection goes to the Land Valuation Tribunal for settlement.

Rating values as at 1 August 2023 are used for the next 3 rating years, starting from 1 July 2024, to calculate rates for each rateable property. These values are combined with the budgets set by Council each year, as well as the Revenue & Financing Policy, which outlines the sources and levels of funding for each activity. Council’s rating system is governed by the Rating Valuation Act 1998 and audited by the Office of the Valuer-General.

The legislation for carrying out rating valuations has not changed. Updated guidance as agreed between valuers and the Valuer-General continues to be used.

The way in which Council sets its rates has not changed. The revenue and finance policy and Council's rate remission policies will be reviewed as part of the Three-Year Plan 2024-2027.

Information about trends and values

The revaluation reflects the property value changes over a mixed 3-year period, affected by Covid-19 and Cyclone Gabrielle.

The average property values have increased by 18% to 27% since 2020 but vary by property type and location.

Lifestyle and lower-end residential properties have the highest value growth, driven by housing and rural living demand.

Horticulture, forestry, and commercial properties have the lowest value growth, due to sector challenges and uncertainties.

The rural sector had a value surge in late 2021 and early 2022 that softened in the last 12 months due to weather and trade issues.

Another factor affecting property values is the high building cost, which has increased significantly in the last 3 years. This has deterred some buyers from new builds and affected the uptake of serviced residential land.

The high inflation from 2020 to 2023 has also influenced the purchasing power of property owners. Overall, the property values have kept up with the inflation rate.

Rating valuations are used to calculate rates and are based on the value of the property as of 1 August 2023.

Market valuations are used to determine the current price of a property in the open market.

Council contracts Lewis Wright, a valuation service provider to deliver rating valuations.

Rating valuations are done every 3 years by Council using a  rating methodology set out in legislation.

They don't include the value of household chattels, such as furniture and appliances.

Rating valuations are influenced by factors such as the location, size, type and condition of the property, as well as the sales of similar properties in the area.

Rating valuations are audited and certified by the Office of the Valuer General to ensure they meet rigorous quality standards nationwide.

Market valuations are done by independent valuers who inspect the property and consider the current market conditions. They may include the value of household chattels, depending on the agreement between the seller and the buyer. Market valuations are up-to-date compared with rating valuations, but they also cost more.

If you are planning to sell or buy a property, you may want to get a market valuation from a registeredqualified valuer. Rating valuations are not intended to be used for buying or selling purposes, as they may not reflect the true value of the property at the time of the transaction.

Other aspects are also considered to value your property, but are not limited to:

  • Location
  • Size
  • Condition
  • Character
  • Quality of the construction
  • Views / outlook
  • Access (drive on)
  • Garaging / off street parking
  • Other buildings or notable features
  • Sun (aspect)
  • Modernisation (kitchen and bathrooms)
  • Number of bedrooms / bathrooms
  • Privacy
  • Access to local transport and amenities
  • Street appeal
  • Noise

Maori freehold land value is discounted before it gets used for rating purposes. See more information about Maori freehold land

For more information, see the Q&A section