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Wāriutanga rawa whenua whānui

General property revaluation

A rating valuation is a three-yearly assessment of a property's value and is determined by house sale prices on a specific date. We use these valuations as a guide for setting your rates.

You should know

Our next property revaluations will be carried out in 2024. We expect valuation notices to be sent to property owners towards the end of the year.

We will use the new property values to assess your rates from July 2025.

For a written transcript of this video, see Transcript of Revaluation: A simple explanation.

How often we revalue properties in Auckland

The law requires all councils to revalue properties within their boundaries every three years.

The last revaluation took place in June 2021.

New values are based on the most likely selling price if the property had sold on 1 June 2021.

Why we revalue properties

Revaluations are required by law and we do them because we want to set property rates fairly.

As property values are always moving we need to update our rates distribution to maintain fairness.

The aim of the general property revaluation is not to provide values for property owners to use for marketing, sales or any other purposes.

How we calculate property values

We compare recent sales in the area with the property being valued.

A zoning change under the unitary plan may affect a value if it changes the way a property:

  • can be developed, such as housing intensification
  • how it is used, such as a change from a residential to a business zone.

Our valuers work with independent organisations to determine the values. The Valuer-General audits these values to ensure accuracy.

Factors we consider

  • Property type.
  • Location.
  • Land size.
  • Zoning.
  • Floor area.
  • Consented work (renovations, new build, subdivisions etc.).

What a property value is made up of

Capital value (CV)

The most likely selling price at the date of valuation.

The CV is also known as Government valuation (GV) or Rateable value (RV).

Land value (LV)

The most likely selling price of the vacant land at the date of valuation.

Improvement value (IV)

The added value of improvements to the vacant land. This is calculated as CV minus LV.

The IV is not an assessment of the replacement cost and should not be used for insurance purposes.

Impact of a revaluation on property rates

An increase in your property value may not mean you pay more in rates. Any rates increase is determined by your property value increase compared with the average increase across the Auckland region.

If your property has increased by more than the average, you may pay more than the average 3.5 per cent rates increase for the 2022/2023 year.

Revaluation does not affect the amount of money we collect from rates - it helps us work out everyone’s share of rates.

If you chose to object to your property value, you may have received rates bills in 2022 before the outcome of your objection.

You can rest assured that if your value changes as a result of your objection, we will backdate the changes to your rates accordingly.

For more information, see How you property rates bill is made up.

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