Property valuation

General revaluation 2014

 
We will revalue your property in 2014 and you will receive your valuation notice in mid-November 2014.

We will use the capital value (CV) of your property established by our team of valuers as at 1 July 2014, to help set the region’s rates for the rating year beginning 1 July 2015.

Revaluation doesn’t impact on the total amount of rates collected by Auckland Council. It helps us work out everyone’s share of rates, which is based on the CV for each property.

Our experienced and qualified valuers work closely with valuers from independent organisation, Quotable Value (QV) to determine a value for each property.

Before valuations are finalised, they are approved by the Valuer General (VG), who is responsible for authorising rating valuations for the government across New Zealand.

You will have the opportunity to make an objection to any value that we assess for your property, once we publish the revised District Valuation Roll.

Watch the 2014 revaluation video

 

Local board value movements

Average indicative residential value movements by Local Board have been released. Find out more about your local board area (PDF 940KB). It is important to remember that these figures are indicative only and your valuation notice will arrive in the mail in mid-November.

  • 2013/14
    Assessment of values for 525,000 properties
  • 1 July 2014
    Effective valuation date
  • 31 October
    Valuer-General signs off on values.
  • 10 November
    Public notice. Completion of values is published in main newspapers.
  • 10 November
    Objection period opens
  • 10-12 November
    Revaluation notices posted
  • 19 December
    Objection period closes.
  • 1 July 2015
    New rates set
  Indicates current position in timeline.

 

Explaining the property values on your notice

Capital value: The assessment of the most likely selling price had the property (including buildings and all other improvements on the land, excluding chattels) been sold on 1 July 2014.

Land value: The assessment of the probable price that would have been paid for the bare land as at 1 July 2014. It includes development work such as drainage, retaining walls and levelling, but disregards any buildings or other improvements to the property.

Improvement value: The value of improvements is the difference between the capital and land values. It reflects the additional value given to the land by any buildings, other structures and any landscaping that adds value to the land.

 


Property revaluation and insurance  

 The improvement value shown on the notice should not be used for insurance purposes.

It reflects the difference between capital and land value and it does not necessarily equal the amount it would cost you to rebuild your property (replacement value) or depreciated replacement value.

 


How we calculate property values

Given there are about 525,000 properties in Auckland it is logistically impossible to inspect them all individually. As such, rating valuations are calculated using mass appraisal techniques.

Mass appraisal valuations are used for all rating valuations in New Zealand and globally.

When we assess the value of your property we consider the following factors:

  • what properties are selling for in your neighbourhood
  • the type of property: house, town house, factory, shop, etc.
  • information in the District Valuation Roll, which contains the valuation details of individual properties in the Auckland region
  • information about industrial and commercial rental trends obtained from market surveys
  • changes that have been made to your property since the last revaluation (2011).


Making an objection

You will have the opportunity to object to your valuation once you receive it.

The objection period is open for the 30 day statutory period beginning 10 November 2014 and closing on 19 December 2014.

The process for making an objection will be displayed on your notice.