Quotable Value has completed its three-yearly revaluation of Kaipara District properties and valuation notices will be posted to property owners from 29 November 2017. If you own property in Kaipara and have not received a valuation notice by the middle of December, contact Quotable Value on 0800 QV Rating (0800 787 284). If you disagree with the valuation of your Kaipara property, you must lodge an objection with Quotable Value before 31 January 2018.
Kaipara District Council contracts Quotable Value to value properties on its behalf. Quotable Value is New Zealand’s largest valuation and property services company.
Why do properties have to be valued?
The Rating Valuations Act 1988 says that all properties must be valued every three years to help set local body rates. Kaipara District Council uses standard rating valuations governed by the Rating Valuation Act 1998 and audited by the Office of the Valuer-General.
How are property values calculated?
QV compares your property with recent sales in an area to determine a property value. Many factors are considered, but can include location and land size, zoning, floor area, and consented work such as renovations.
What does the 2017 property valuation tell us?
The rating revaluation figures compiled by QV show the total capital value of the 14,819 properties within Kaipara District Council is now $8.6 billion with the land value of those properties now valued at $5.0 billion. This is a 30% increase from the previous 2014 Value level.
How do new valuations affect rates?
Rating valuations form only a part of the calculation of your rates bill. Kaipara District Council uses land values to set General Rates. Valuations are NOT used to set the Uniform Annual General Charge, Ward Rates or targeted rates for water and sewerage. The new rating valuations will be used to calculate rates for the next rating year that is commencing 01 July 2018. The new valuations which show the value of land in Kaipara has increased do not increase revenue for the Council. The new valuations will reallocate or redistribute the rates between ratepayers.
If my land value went up by 10%, will I face a 10% rates increase?
No. An increase in your land value does not mean an equivalent increase in rates.
First, only part of your rates bill is calculated using the value of your land. Secondly, for that part of your rates that is based on land value any increase in your rates will depend on how much your land value increased compared to the average across the District. The increase across the District was 33.3%. If the value of your land increased by more than 33.3% your rate bill in 2018 may increase.
Will I get a reduction in rates if my land value went down?
This may happen. The average land value increase across the whole District is 33.3% per cent. If your land value did not increase that much, or even decreased in value, you may get a rates reduction. Remember, land value is only one factor used to calculate rates. There may be other factors affecting your rates bill.
How can I find out what my rates will be for 2017/18?
The revaluation does not affect your rates for 2017/2018. These have been calculated and billed based on the 2014 valuation.
How can I find out what my rates bill will be for 2018/2019?
We use the valuation to help calculate rates for the year starting 1 July 2018. Rates are set when we adopt our Long Term Plan 2018/2028 by 1 July 2018. You can check the RID during the consultation period March-April 2018.
How is the valuation done?
Quotable Value assesses properties using a mass appraisal process. Rather than inspect every property, QV takes similar property sales in each area at the time of the valuation and establishes a market trend. Sometimes roadside inspections are carried out to check the accuracy of proposed values. QV also uses property information like building consents held by Council.
What does land value, capital value and improvement value mean?
Land value is the mostly likely selling price of bare land at valuation date. It includes drainage, excavation, filling, retaining walls, reclamation, grading, levelling, vegetation clearing, soil improvement, and protection from erosion or flooding. It does NOT include buildings.
Capital value is the mostly likely selling price of the whole property at valuation date. It includes buildings and improvements. It does NOT include chattels, stock, crops, machinery or trees. Only capital value includes GST, other property types do not.
Improvement value is the difference between the capital value and the land value. It reflects the value of the property’s buildings and other structures.
I haven’t made alterations to my property. Why has my property value increased?
The capital value is determined by recent sales in the area, which creates a market trend. Even if you have not made improvements to your land or property, its value may have increased because of strong sales in your area.
How can Quotable Value revalue properties without inspecting them?
It is not practical to inspect every property, nor is it necessary. Council holds a lot of information about properties. Council tells QV about major changes like subdivisions and building consents. Roadside inspections can also confirm other changes.
What can I do if I disagree with the valuation?
You can object if you do not think your valuation reflects the market value of your property. Talk to QV first by calling 0800 787 284. If you are still concerned, you can make an official objection by completing the QV objection form online. Objections must be lodged within six weeks of valuation notices going out. Kaipara property owners need to lodge objections before 31 January 2018.
What happens if I lodge an objection?
After an objection your property will be inspected. If the issue can’t be resolved with an external inspection, the valuer will contact you to arrange access. You will be told about the outcome of your objection in writing.
Is my valuation public information?
Council is required by law to make some information public. The contents of your valuation notice are contained within a public register known as the District Valuation Roll. This is available for public inspection at Council offices for a limited time. You can access any information held about your property and ask for corrections to be made.
Can I remove my personal information from the roll?
You can ask for your name to be removed from the District Valuation Roll. Visit a Council Service Centre or contact us.
Where can I get more information about my valuation notice?
Phone Quotable Value on 0800 787 284. Alternatively, go to QV’s website for online property information.