Property Valuations and Objections
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Who undertakes the valuations?
Quotable Value (QV), an independent valuation service, undertakes valuations and set values on behalf of Council every three years. Council stores details on every property in New Zealand such as floor and land area, age of buildings, condition and location.
QV determines the value of properties by looking at the sale prices of properties, and the value of building consents in the area. QV use this data to determine a value trend to apply to different property groups.
Some properties are inspected throughout the year to make sure details are updated where changes have occurred; QV is notified about changes as part of the building consent process.
The valuations are a snapshot of the market as at 1 September in the year of revaluation.
How is my property valued?
Valuations are made up of:
Capital value: the approximate price that would be paid for the property at the valuation date. It’s the total of the land value and improvements value, the total value of your property. It excludes chattels, stock, crops, machinery or trees. Residential values include GST, other property types do not.
Land value: the approximate price that would be paid for the bare land. It includes work such as drainage and excavation.
Improvement value: is calculated by subtracting the land value from the capital value. It represents the extra value the buildings and other improvements (e.g. landscaping and fencing) add to the land. It does not indicate the actual cost of building or landscaping.
When will I receive my property valuation notice?
Notices were posted to property owners from 28 November 2016.
In the meantime, can I find out my property value now?
Individual property values can be viewed at Council, 16 Cobham Court, Porirua or call 04 237 5089 or email firstname.lastname@example.org
The current and future individual property values information can be viewed on our Property Rates Database.
Why have rating values increased?
The collective sale prices of properties across New Zealand have increased, and Porirua is no different.
The valuations are a snapshot of the market as at 1 September in the year of revaluation. Council’s rating value should not be taken as a market appraisal.
How does this change impact my rating valuation (rates)?
Changes to the rates for the 2017/18 financial year will not take effect until 1 July 2017.
This revaluation has resulted in the largest increase in Porirua City property rating values since 2007 and will impact on the distribution of rates across the various sectors and suburbs of the City. The rating revaluation only redistributes the rates across the rateable properties of the City and does not increase the total rates requirement for the City.
If Council’s total rates requirement did not change from year to year and every property increased in value by the same percentage increase then every property would pay the same total rates as last year. However the property rating values have changed by varying percentages both individually and within sectors and this means that those properties with a higher percentage increase in rating value than the average increase will have a higher percentage rates increase than the average property, while those that have a lower percentage increase in rating value will have a lower percentage rates increase than the average property.
What if I disagree with my valuation?
If owners do not agree with the rating value they have the right to object. The objection must be lodged in writing or online no later than 13 January 2017.
Objections can lodged online www.ratingvalues.co.nz or call 0800 787 284.
Forms are also available from Council’s offices at 16 Cobham Court, Porirua or can be downloaded QV Objection Form (pdf 301kb).
How do I find out more?
Further information can be found at www.ratingvalues.co.nz or call 0800 787 284. Basic facts about the rating values can be downloaded Understanding Your Rating Values - The Basics (4 page pdf 1MB).