General property revaluation

How often we revalue properties in Auckland

We revalue properties every three years. This is a legal requirement.

Our last general revaluation was in 2017, and our next revaluation will be in late 2021.

Effect of a revaluation on property rates

An adjustment in a property's capital value does not mean that property rates will automatically change.

Why we revalue properties

The general revaluation of all properties helps us work out everyone's share of rates.

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

Property values are public information - you can view them online.

How we calculate property values

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

We consider:

• property type
• location
• land size
• zoning
• floor area
• consented work (renovations, new build, subdivisions etc.).

and other factors.

A property value is made up of three parts:

• 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.

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. Or, how it is used - such as a change from a residential to a business zone.

Our valuers work with independent organisation Quotable Value (QV) to determine property values.