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About rating valuations
A rating valuation assesses the value of a property every three years. It is an estimate of what each property would have sold for on a set date and shows how its value has changed over time.
We use the valuation as a guide for setting rates, but it is not the only factor. How you use the property and where it is located also affects your rates.
2024 rating valuations
The 2024 valuations are based on property values as of 1 May 2024, not the current market value. These valuations will help us set rates fairly across 630,000 properties from 1 July 2025.
The new values reflect changes in the property market since 1 June 2021.
QV and Opteon are the independent valuation providers who have completed the valuation process. These companies are experienced property valuers and have worked closely with the council.
Ratepayers can find their valuations by searching their address on ‘Find a property valuation’ from 9am on Tuesday 10 June. We will also send written notices to ratepayers by email and post from 13 June.
Trends by property type
The average change in the market value of Auckland's properties as of 1 May 2024 is:
- industrial +5%
- lifestyle +4%
- rural +4%
- commercial -5%
- residential -9%.
Visit OurAuckland to read the full 2024 rating valuation summary, including trends by local area and storm-affected property information.
How often we revalue properties in Auckland
The law requires all councils to revalue properties in their area every three years.
How we calculate property values
Values are calculated by mass valuation of properties. Mass valuation means using standard methods to calculate the values of many properties at once, rather than valuing each one individually. This is done by using recent property and sales information.
To calculate the 2024 property values, valuers looked at the sale prices of similar properties in the same area around 1 May 2024. For example, renovated villas in Grey Lynn were compared with other renovated villas nearby.
Similar residential properties in the same area are likely to have similar value changes. However, the change will vary between standalone houses, cross-leases, units and other types of homes.
Independent property valuers work with the council to set property values. The Valuer-General checks these values to make sure they are correct.
Factors we consider for revaluations
- Property type
- Location
- Land size
- Zoning
- Floor area
- Consented work (like renovations, new builds, subdivisions).
A zoning change under the Auckland Unitary Plan can affect a property’s value if it:
- allows more development, such as extra housing, or
- changes how the land can be used, for example from residential to business.
What a property value is made up of
Capital value (CV)
The CV is the most likely selling price at the date of valuation.
It is also known as government valuation (GV) or rateable value (RV).
Land value (LV)
The LV is the likely price the land would sell for on the valuation date, without any buildings or improvements.
Improvement value (IV)
The IV is the difference between the capital value and the land value. It does not necessarily reflect the actual value or replacement costs of any building.
Why we revalue properties
Revaluations are required by law and help us set rates fairly across all property owners. Because property values change over time, we need to update how we distribute rates to maintain fairness.
The property revaluation is not intended for use in:
- marketing
- sales
- any other purpose.
Impact of a revaluation on property rates
Revaluations do not affect the amount of money the council collects from rates. Instead, they help us work out everyone's share of rates.
Any change in your rates depends on how your property's value changes compared to the average across the Auckland region.
If your property value has changed by more, or less, than the average, you may pay more or less than the average 5.8 per cent rates increase forecast for the 2025/2026 year.
Visit How your property rates bill is made up for more information.
